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Why Does It Matter Where My Down Payment Comes From?

A good example of a complication that I’m seeing more and more in my loan applications are large deposits. I’m finding that someone will have a large deposit on their bank account. It might be the sale of a car. It might be a gift from mom and dad. It might be the sale of furniture or art. It might be a number of things, but an underwriting is going to question if it’s anything but a paycheck deposit and it’s a larger amount, they’re going to ask about it. You need to know about this so you can be prepared to show supporting documentation and a proper paper trail on where this large deposit came from.