financing to buy their homes and i work with a lot of first time homebuyers and i've been doing this for over five years and have helped make customers pay the dream of homeowners hip here in america love to help you as well and i've worked with many customers together with from iowa as well how many people buy their homes that's why i was very excited when she told me about this opportunity to come on  companies for landers are looking for a way to a home loan they're basically looking at the customer's ability to we pay the loan and this three main thing is that they love their we're very your credit they're looking at your income and they're of it your assets or your reserves that's how much money you have in the bank your credit score has that requirement the sec required that you have to have a form of income and means you have to have a child or a business that you receive or you can receive fixed income like social is sometimes you have maybe you get a lot of cash from somewhere maybe you have some cash saved home and say let's say for example i have five thousand dollars deposit we're going to you know the mortgage company is going to ask you where did this five thousand dollars deposit come from that would you explain this was actually right just deposited this cash unfortunately we will not be able to use that money to qualify for the loan because there is no way for the mortgage company to prove where that hash came from and there are laws associated with it proving where your money in your bank account came from if your bank account it shows a deposit from your job if i work  a way for example every week you see the from direct deposit from safeway will they understand that you work at safeway you get a deposit from safeway so that sets but a cash deposit  cannot accept because they can't prove where that cash came from so that's why they need to see at least two months of bank statements without any large cash deposits to be able to use your assets to approve you for a home this is one of the most common problems in the loans that have been you know running across and i've had to explain to a lot of customers so if you would like to get a deposit the best way to get it is if you can get it from a check or from a direct deposit because we can she can  prove where the check came from we can prove where the direct deposit for the wire came from but with cash we cannot prove where house came from because how much can come from anywhere and they have cite money laundering laws which means that i'm not saying that this is the case for people but let's say if i was doing something illegal and i i hear this an illegal activity to get that cash and i because of that large amount of cash it's my house there's no way the underwriting can prove you know what it came from so to follow the rules they have to be able to show  it shows that same balance if i count ten thousand dollars tell me five because the beginning of my all this bank statement from two months ago was still out there i deposited a large amount of cash so the underwriters do not see that large cash deposit because they were only required to go back to my bed on my two months bank statements it doesn't show that large cash deposit then you will not have a problem so if you have large amounts of how you want to buy a phone i suggest deposit in your cash into your bank account as soon as possible and then after two months when we show t of bank statements after that cash deposit then you won't have a problem that is what they call season season here cash deposit season i said ok copy the shot that your uncle used to give you the money and that's ok because that's a gift and we can prove that there was a gift with that letter so that's no problem so if you have family friends that want to help you out of my home that's no problem but the one thing to remember is they have to give it to you as a shack and it has to be they have to look at it like a family driver or somebody who is self employed i don't know how it is every year we do your taxes if you're self employed you want to write off the majority of your income so you don't have to pay that many type that much taxes and that makes sense you know because you're saving money that way but the only problem is when we do it alone we look at your last two years tax returns and let's say you did make fifty thousand dollars last year but because you wrote off so much in here and it shows that you made ten thousand dollars and not fifty thousand dollars we have to use ten thousand dollars which shows that you made less than a thousand dollars a month which would make it hard for you to qualify for a type of a loan and so basically when you're when you want to buy a home  fun but that's the way that we can prove that you made the amount of money that you do so there you can qualify to buy a house so right now is february fourth and i know a lot of people are getting ready to file their taxes if you're planning on buying a home my advice to you is before you buy a home before you before you should before you do your taxes give us a call you zero six three five one four seven six nine but like i said if you're planning to buy a home and you have your self employed but you haven't filed your taxes yet for two thousand and fifteen call me first and call them on first because we can help you to see how much you would need to qualify for the home amount that you're trying to buy so that you did report your taxes correctly another most common problem i would say but we're happy to see how that helps many customers get into their first home and get around that problem so we can definitely help you with