Why Do I Need to Source and Provide a Paper Trail for My Bank Deposits and Transfers?
Any one deposit that exceeds $500 will need to be sourced and a paper trail provided. The reason is, the underwriter needs to ensure you have not taken on additional debt which would impact your DTI.
Knowledge is power so keep reading and learn about more loan underwriting requests.
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This article is intended for educational purposes only and should not be interpreted as a recommendation. The information in this article is not an indication of program availability. Always consult with a mortgage professional before making a decision on a home loan.