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sourced deposit
#1
Why do deposits in a bank statement have to be sourced?
 
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#2
It only needs to be sourced if you are needing to use it towards your down payment or closing costs for your home purchase. Irregular deposits, large deposits within the past 60 days needs to be sourced. Any deposits that is older than 60 days does not need to be sourced.

If you have cash and cannot source cash, deposit it as soon as possible in your bank account and let it season for 60 days. Mortgage lenders ask for 60 days of bank statements and any large or irregular deposits or cash deposits that have been deposited for longer than 60 days is okay and no body will question it.

Here is an article on unsourced funds in the mortgage approval process

http://gustancho.com/unsourced-funds-mor...l-process/

 
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#3
Here is an article that I have written and posted on my blog about funds on bank statements.

http://gustancho.com/funds-in-bank-statements/

 
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