Document Large Deposits on a Mortgage

Documenting deposits has to rank as one of the most annoying parts of applying for a new home loan.  Have you heard the wise crack that goes something like "my mortgage lender needed everything except a DNA sample" from folks that have recently applied for a new mortgage?  There is a very good chance that the frustration that birthed what has now become a cliche was caused by borrowers that had to document the "large" deposits in their bank accounts.  You thought Chinese water torture could make … [Read more...]