Cash Deposits When Buying A Home

Before buying a house, it’s essential to be mindful of your financial activities, especially regarding large cash deposits in your bank account. This precaution can significantly impact your mortgage approval process.

Underwriters closely examine deposits that exceed 50% of your monthly income (e.g., $3,000 if you earn $6,000/month).

✔️ Direct deposits from your employer or IRS refunds are acceptable.

❌ Avoid making large cash deposits before applying, or ensure you have clear records of their origin.

By following this advice, you can help ensure a smoother mortgage approval experience! 💰✨

For more tips on buying a house, reach out to Brittney Fleischman @loansbybrittney with @dream_home_lending, our trusted lender partner.📈

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