Mortgage Loans

turn on suggestions Auto-suggest helps you quickly narrow down your search results by suggesting possible matches as you type.
Auto-suggest helps you quickly narrow down your search results by suggesting possible matches as you type.
Reply
Topic Options
heyitsjillj
New Visitor
heyitsjillj
Posts: 1
Registered: ‎02-16-2013

Deposits in Bank account

Options

‎02-16-2013 04:24 PM

I am trying to purchase a home for 260K... everything is going smooth.  I have the credit and down payment I need. My DTI is good too.

Of course I am probably being nervous, but I have some cash (about $1500/month) being deposited into my bank account from my fiance' to help me pay our current bills.   Is this a red flag? 

Message 1 of 2 (250 Views)
 
Reply
New Contributor
BCullum
Posts: 157
Registered: ‎01-09-2013

Re: Deposits in Bank account

[ Edited ]
Options

‎02-16-2013 04:27 PM - edited ‎02-16-2013 04:27 PM

Letter of explanation saying this and you should be good, worse case scenario they back out those funds. But if its been a constant thing I don't see any issues arising for you. I had over 1500 in cash deposits due to petty cash reimbursement and they didn't raise a stink about it. Just sent off my LOE and all was good.

Lender Pull EQ 745 EX 734 TU 722
Message 2 of 2 (248 Views)
 
Reply

myFICO is the consumer division of FICO. Since its introduction 20 years ago, the FICO® Score has become a global standard for measuring credit risk in the banking, mortgage, credit card, auto and retail industries. 90 of the top 100 largest U.S. financial institutions use the FICO Score to make consumer credit decisions.

>> About myFICO
FICO Score - The Score that matters
Click to Verify - This site chose VeriSign SSL for secure e-commerce and confidential communications.
www.myfico.com is a BBB Accredited Financial Service in San Rafael, CA
FOLLOW US Social Media Facebook Twitter Pinterest Google+