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Why do mortgage lenders need to see your bank statements? | Mortgages Explained






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Title :  Why do mortgage lenders need to see your bank statements? | Mortgages Explained
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@FAB_GNC
 They are looking for more than debt accounts They are required by law to trace funds being used for the purchase of the property from due diligence, earnest money, closing costs, etc It’s a frustrating process if you aren’t aware ahead of time A really good real estate with walk you through this process but you need to do your own research on the timing of gathering these funds, especially if you are using cash (underwriters hate cash transactions because they are difficult to trace)
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