Question re Source of Bank Deposits

[Anonymous]

I am self-employed, and thus, receive checks from clients on a monthly basis, which are deposited into my business account. In anticipation of underwriting needing to know the source of all of my deposits, the LO suggested I get copies of all checks. I have copies of everything, except 1 check for $1,500 deposited on 6/13. The only reason I am copying checks from June is because my statements go from mid-month to mid-month, and therefore, the 2 statements the lender has include that 6/13 deposit. After we pay our final check (down payment and any closing costs) into escrow, we should still have ~ $30,000 in cash left over (not counting money tied up in mutual funds, IRAs, etc.). So, could the lack of the source of this lousy $1,500 from mid-June be an issue? I'd hate to have to go back to my client to ask for a copy of their check.

As a side note, credit is very good, and the DITI has come out to be 29%.

[BrianB_The_Loan_Professor]

It is possible however you could use an invoice possibly - and worst case - even if you had to go back to a client - if you explain the circumstance most people would be fine helping you out

B

[Anonymous]

Well... this sounds a bit crazy to me, but the underwriters did not want to see ANY sources of my business deposits. The only condition they have is that they want to know that my IRA is fully vested. This seems a bit odd to me, because after we close, we'll still have ~ 6 months of PITI payments in cash, and my husband is fully vested in his 401(k) and there is over $100K in that account. My retirement account is an IRA, since I am self-employed, and thus, there really isn't any sort of "vesting" to take place.