Mortgage Loans

[jmcmanna]

I applied for a conventional mortgage by myself in a community property state. The loan was approved. One of my conditions is to provide a bank statement and explain any large deposits. My wife has her own checking account and a couple weeks ago transferred $2000 into my account. Is it common to have to write a gift letter for the money when she is going to be on the title? Is it going to raise a red flag that I didn't add her checking account into my assets when I applied?

[Booner72]

I am not in a community property state.  But, I bought the house w/o DH, but he gave me all the DP money and closing cost money.  FHA just took a gift letter on their letter form and it was all good.

[cassembler]

I bet they're just going to ask for a bank statement from her, not because it's a gift fund (it's not), but to source it. I wouldn't lose any sleep over it.

EDIT: My wife and I share a joint acct, and I'm applying alone in a com. property state; they never asked for her "solo" account, as we both direct deposit into the joint.