There seems to be a fear out there that banks are not lending money. This is absolutely not true. If you do decide to either purchase or refinance a home there are some items that are helpful to know prior to beginning this process. This article is intended to educate you about some of these complexities. There are always issues that could arise but having knowledge of the following items could allow you to alleviate some of the potential issues or at least educate you about what could happen.
This issue would only be applicable if you are purchasing a home or putting money down for a refinance. Depending on the type of loan you are applying for the lender can ask for up to 60 days worth of account statements from the account you will use for funds at closing. They now require borrowers to show proof of any type of non sourced deposits to the account being used for down payment. They will not q