FHA Proof of Earnest Money Requirement

[Anonymous]

I need to show proof of my first earnest money deposit check for FHA approval.  My bank statement which shows the check clearing on the statement six months ago is on the bank statement but there is a large deposit on the statement which I do not want the underwriter to question or have to show add'l paper trail to show what it is.

What is an acceptable form of proof of earnest money deposit besides providing the bank statement?

[Watchmann]

A photocopy of the cancelled check (front and back) is definitive proof that the payment was made.  I'd try that in lieu of the bank statement.

[Anonymous]

I just went through the same thing. FHA may have a form for you and the third party to fill out. FHA wantsto know  where the money came from. They want you to show that you do not have to pay it back if it is a gift. In the event that it is a gift the third party will have to have their bank provide a letter stating that giving you this money will not cause them a hardship. If its not a gift they  want to make sure its taxed if it can be and or make sure your not dealing drugs, ect.

[DallasLoanGuy]

get a front/back image from bank.

or, the lender can disallow the earnest monies. in which case, you would get it refunded by the title company after close.