Underwriting process and bank statementsI'm in the process of purchasing my first home with a preapproved no money down VA loan. I am being gifted with $10,000 and my only other asset is a $5,000 401K. I'm concerned that my bank statements may set me back. I have been living with my mom for the past year and have saved no money because I've been spending my paychecks on "leisure" and paying bills off. Currently my DTI is only 14% (adding the mortgage, it will be 35%) and I haven't overdrawn my account, although the blanace has gotten pretty low ($.98 one pay period). My mid credit score is 690. Will all this affect my ability to qualify for a loan? When I was renting, I was never late, so I know that I can take on a mortgage. But I'm just not sure the lender will agree.September 27 2013 - US00YesReport a ProblemProblemSelect oneOffensive contentIrrelevant contentSpam (pure self-promotion)OtherDetailsYour emailPlease enter a valid email address.Submit CancelContent flaggedWe will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.We're sorry. This service is temporarily unavailable. Please come back later and try again.