Don't worry about that small deposit. I doubt your underwriter will question it. It's the larger deposits ($1,000+) that need to be documented. If for some reason it was questioned just say you deposited some cash on hand. I am a Mortgage Banker.
And my husband gave me some spending money. I, like an idiot, deposited it in my account. And of course, underwriting wants to know where the deposit came from. I know they are only making sure it's not a loan, but how do I explain it? It's only $300, I kept the rest in cash and I had much more in the account at the time. The money came from a security job he was paid for in cash. Other security jobs are 1099, this one wasn't. Any suggestions?
Really depends.... Mine asked me about EVERY deposit that wasn't a paycheck...even though its only $300 the will subtract from your current balance on your statement....since the $300 is not seasoned and unverfied that gets backed out a....My wife lost her job while we were under contract and I put a few grand in the bank to pay bills and groceries on top of what we had for down payment and the backed it out and almost didnt close. The lender didn't buy my Dave Ramsey emergency fund.