What Mortgage Lenders Do and Don’t Want to See on a Bank Statement

Lenders use your bank accounts to determine your liquidity and stability. They want to assure themselves that you can afford the mortgage.
What Mortgage Lenders Do and Don’t Want to See on a Bank Statement
Mortgage lenders will look for red flags in your bank statements before approving a mortgage. jason cox/Shutterstock
Anne Johnson
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Mortgage lenders tend to look at two months’ worth of bank statements when you apply for a mortgage. They want to know if you can afford down payments, closing costs, and future mortgage payments. Some items they look for include income, account stability, and expenses.

But they also look for red flags. There are items you want your lender to see, and there are others that can torpedo your loan. Here are a few of both.

What Do Mortgage Lenders Want to See?

There’s a lot of paperwork that goes into applying for a mortgage. And one of the items that mortgage lenders require is your bank statements. Depending on the underwriter, your bank statement can be pivotal in your qualifying for a loan. But what do lenders want to see?

Income

Mortgage lenders want to verify your income to ensure you can make the monthly payments. They also want to know whether you have enough funds for a down payment.
Anne Johnson
Anne Johnson
Author
Anne Johnson was a commercial property & casualty insurance agent for nine years. She was also licensed in health and life insurance. Anne went on to own an advertising agency where she worked with businesses. She has been writing about personal finance for ten years.