Does being a co-owner of my mom's checking and savings accounts affect a possible mortgage loan?

[sgomez1325]

I'm looking to apply for a mortgage loan in November. I've got a 10 month plan to get my debt paid off (all except my student loan and car). I know mortgage companies are strict as far as cash deposits and stuff like that, but will the fact that I'm a co owner of my mom's bank accounts have any affect on that?  There isn't anything fishy on her accounts. She receives an annuity retirement check, social security check and a small paycheck since she returned to work last year)(I'm not a co-SIGNER of anything, I'm just listed on her checking and savings accounts since I handle all of her finances).

[ShanetheMortgageMan]

If you want to use the money in that account to help you qualify (as "financial reserves" or down payment funds) then your mom would need to write a letter stating you have full access to the funds in your joint account.  If you don't want the account to be considered for the mortgage then you just wouldn't supply it at all.  If you do end up using the account, then since annuity retirement, social security & paychecks are usually direct deposited it normally will list the source of those deposits on the bank statement & an underwriter should be able to deduce those deposits are from your mom's income (worst case you may need to write a letter explaining what the deposits are from).