When lenders are reviewing your bank statements to determine whether they can approve you for a loan they are looking for the following information:
-Positive account balance
-Little to no overdrafts
-Regular monthly income deposits
-Enough money to cover at least 10% down payment
-Enough money to cover several months’ worth of mortgage payments as well as closing costs
-When income was deposited into your account (generally, they want the income to be seasoned, meaning it’s been in your account for a while and wasn’t all just deposited right before you applied for your loan)