What Do Lenders Look For On Bank Statements?

When you apply for a mortgage, lenders will examine your bank statements to ensure that you have the financial means to make the down payment, closing expenses, and future loan payments that will be required.If your bank statements are free of any suspicious activity, you will have a far better chance of being accepted.The following are factors that might raise red flags for mortgage underwriters:

Why do Lenders look through your bank statements?

The reason why lenders examine bank statements is for a variety of reasons, which are as follows. The first reason is to ensure that your revenue is indeed what you claim it to be. The second step is to examine the overall performance of your account.

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