What do I do if I have already received money in my account?
We will need to see a copy of the check you deposited, and will need a letter of explanation about the source of the money. Occasionally, that letter would have to be written by the person/entity that provided the check.
You can usually get a copy of this check off your online banking system. If you don’t bank online, your bank can always provide a copy of a deposited item or the person/entity that wrote the check can provide a copy of the cancelled check as well.
Learn more: Asset Related Questions
- Can I use cash deposits?
- Can I take a cash advance on my credit card?
- Can I deposit checks from sources other than my payroll check into my account?
- What about transfers into my account from another account?
- What do I do if I have already received money in my account?
- What other things does the lender look for on account statements?
- When do I need to have my down payment?
- What is required for gift documentation?
- My agent is writing my offer this afternoon and I forgot my checkbook. Can my girlfriend (or mom or brother or friend) write the earnest money check for me and I can pay them back?
- I don’t have enough money in my account for my earnest money. Can I write a check from my credit card account?
- Will my earnest money count toward my down payment?
- Do I always get my earnest money back if I don’t purchase the home?
- What other expenses will I have to incur in addition to what is on the closing cost estimates provided by my loan originator?