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Careful with those deposits Eugene!
If you are preparing to refinance a home you should pay extra attention to your BANK STATEMENTS!
Mortgage Lenders frequently request TWO months worth of bank statements ALL PAGES. So if your statement says for example page 1 of 6 - you will have to provide all 6 pages even if some of the are blank or seem insignificant!
Due to current banking and lending requirements ALL deposits must be verified.
What this means is that if there are non-payroll related deposits that do not match corresponding paystubs into checking or savings accounts these deposits are required to be verified via a copy of the deposit slip and copy of check deposited –front and back.
If cash is deposited it may not be used for eligibility purposes and must be accompanied by a signed and dated letter of explanation. With many lenders these days this condition cannot be waived regardless of account balances.
Make sure you can verify all of your deposits for the 60 days prior to applying for a loan and throughout the process! It will make buying a home a much less stressful process for everyone involved.
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