Why big deposits are not good.

Описание: 💰 Why Large Bank Deposits Can Raise Red Flags During the Loan Process 💰

When applying for a mortgage, loan officers carefully review your bank statements to ensure your finances are stable and your income is consistent. One thing that can cause concern? Large, unexplained deposits.

Here’s why they can look bad:
✅ They may signal borrowed funds that need to be repaid, which could impact your ability to afford the mortgage.
✅ They can raise questions about where the money came from and if it’s legitimate or from acceptable sources.
✅ They could disrupt your debt-to-income ratio if the deposit is tied to new, undisclosed debt.

👉 What You Should Do:
Be prepared to provide documentation, like a gift letter, sale receipt, or proof of transfer, to explain any large deposits within the last 60 days. Transparency is key to keeping your loan process smooth and on track. NMLS #2708205

#MortgageTips #HomeLoanAdvice #FinancialTransparency #HomeBuyingProcess #LoanOfficerTips #MortgageApproval