What deposits are NOT used the qualify using bank statments only for income?

SELF EMPLOYED MORTGAGE LENDERS QUESTIONS AND ANSWERSCategory: Bank StatementsWhat deposits are NOT used the qualify using bank statments only for income?
Thomas Martin Staff asked 3 years ago

Bank statement only mortgage lenders will be checking your last 24 months to look for regular consistent deposits from a reliable source. Undocumented deposits and large transfers from other accounts may be backed out without sufficient documentation. Lenders will not allow you to double count income or make deposits to increase your average income.

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