Tag Archive for: 90 Days History

90 Days History

90 Days History

When applying for a mortgage it is necessary to provide 90 days history of your down payment. This is to prove that you did not borrow it or it was not obtained through illicit activity. Often clients have more than one bank account as a source for their down payment. This will require that we provide the lender with 90 days history for each account that is associated with the down payment. Also any large deposits much be throughly explained. We will need to show the sources of the large deposits and 90 day history of said deposits if required by the lender.

Once all funds can be accounted for, then and only then will the lender sign off on your down payment. Anti-money laundering rules are in place for a reason and deposits over 10K will be heavily scrutinized. … Read more