Does my bank account balance affect qualifying for a mortgage

If your account has little or no funds in it, there is actually no reason to even include it in your application. You don't have to show everything in your application, just what is required for qualification. For example; if you have an account with enough funds to cover your closing and required reserves and an account with $2 in it, the $2 account is irrelevant and need not be included in the loan package. Gregorio Denny -- WeFixRates.Com --

Not necessarily but you definitely don't want to be showing the lender statements with insufficient funds charges. As long as you are showing a consistent average balance with sufficient funds required to close the loan you should be fine. Having a couple months reserves would help with the approval of your loan as well.

All funds need to be sourced and documented for at least the most recent two months prior to time of application. You'll need you earnest money deposit and down payment. Plus, 2 months PITI reserves. .... Happy funding, Rudi