Gelt Financial featured in article ‘How Many Months of Bank Statements for a Mortgage Are Needed?’
Gelt Financial president H. Jack Miller was recently featured as a real estate expert in the Benzinga article “How Many Months of Bank Statements for a Mortgage Are Needed?”
How Many Months of Bank Statements for a Mortgage Are Needed?
written by Caroline Lubinsky of Benzinga
Buying a house? Congratulations! But be prepared to provide so much personal information about yourself that even you learn something new. One of those key documents is bank statements. After all, you have to prove that you (and whoever you’re buying a home with) would be a responsible borrower. It’s never a bad idea to prepare in advance so that when you’re asked for them, you know exactly what to get. How many months of bank statements for a mortgage do you need? We got the official answer from two seasoned mortgage experts.
What is a Bank Statement?
A bank statement summarizes your account activity – typically, in monthly increments. It’ll show your deposits, withdrawals, transfers, written checks and balances. Even if you don’t go for a bank statement-only mortgage, you’ll still need to provide the documents.
“If an applicant has several bank or brokerage accounts, they should be prepared to give the lenders copies of all of them,” says H. Jack Miller, president and CEO at Gelt Financial, LLC. “Lenders will want to see your name, account number and dates at a minimum on the statements. If you print screen shots or PDFs, be aware this info must be on them.”
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