I’ve noticed lenders also dig into your recent large deposits or withdrawals—sometimes they ask for explanations if anything looks out of the ordinary.
Yep, ran into this last year. Had a few Venmo transfers from a side project hit my account right before closing. Lender flagged it and wanted documentation—screenshots, invoices, the whole nine yards. They weren’t rude, just super thorough. In my experience:
- Any deposit over $1k got questioned.
- Transfers between my own accounts were fine, but anything from outside needed a paper trail.
- Cash deposits? Huge red flag for them.
It’s a hassle, but not a dealbreaker if you’ve got receipts. Just slows things down.
Honestly, I get why lenders are so strict, but sometimes I wonder if they go a bit overboard. I’ve seen deals get delayed for weeks just because someone got a gift from family or moved money around to consolidate savings. Not everyone has a neat, predictable bank statement—especially if you’re juggling side gigs or freelance work.
I’d actually push back a little on the idea that it’s “just a hassle.” In some cases, it can be a real risk if you’re on a tight closing timeline. I’ve had buyers lose out on properties because the lender wanted to verify every little thing and the seller got impatient. Makes me think: is it better to keep your accounts super simple for a few months before applying, or is that overkill?
Also, cash deposits are a nightmare, but even transfers from apps like Venmo or PayPal can be tricky. I’ve seen underwriters get confused by those, especially if the memo lines are vague. Maybe it’s just me, but I’d rather over-document everything up front than scramble at the last minute. Anyone else feel like the process is getting more intense every year?
Man, I swear lenders must think we’re all running secret offshore accounts or something. I once had to explain a $200 Venmo from my cousin labeled “pizza” (it was actually for a group Airbnb, but try telling that to an underwriter). I’ve started treating my bank account like it’s on a diet—no extra toppings, no surprise deposits, just the basics for a few months. Is it overkill? Maybe. But after losing out on a duplex because of a “suspicious” transfer from my own savings, I’m not risking it again. The process definitely feels more intense every time I buy.
Totally get where you’re coming from. Last time I refinanced, they questioned a $50 transfer from my mom—like, really? It does feel like you have to keep your finances squeaky clean for months. Not overkill at all, just the reality now.
Last time I refinanced, they questioned a $50 transfer from my mom—like, really?
That’s wild, but honestly, I’ve seen underwriters flag even smaller stuff. It can feel like overkill, but lenders are just super cautious these days. Did you end up having to explain every little deposit? Sometimes I wonder if it’s better to just avoid moving money around at all during the process, but life doesn’t always work that way. It’s frustrating, but being extra careful now can save a lot of headaches later.
