Large Deposits
During the mortgage process, you will be asked to document large deposits into your bank account.
You may be asked to produce a transaction history if your bank statements do not cover the period of time necessary to show a specific deposit or payment. Follow these instructions to make sure your transaction history is acceptable to the underwriter.
First, log onto your bank's web site and navigate to the screen where you can see a history of all your deposits and withdrawals. There's almost certainly a feature that allows you to search for a specific date range. You want to search for the period from the date of your last bank statement through the date of the specific deposit or payment in question. Or simply search for the last 30 days.
We can't have any "gaps" between the date on the last bank statement and the date on the transaction history. Likewise, we don't want to show the last six months of transactions because that could open us up to needing more documentation about a transaction that happened long ago.
Once the correct range of transactions is showing, save the information to a PDF document. Don't print the screen or save a screen shot. It won't be formatted correctly. Instead, look around for a little "print" button (it's often a picture of a little printer) somewhere on that web page. Click that button and it will format the information with (hopefully) your name, the bank's name, and/or your account number.
If the print menu doesn't open immediately, hit Ctrl + P. Now you're going to select that down arrow next to the printer and find something that will allow you to print to a PDF. It might be called Microsoft Print to PDF or PrimoPDF or something else with PDF in the name. Click "OK." A new box is going to appear asking you to save the file. Choose a folder where you will remember the file location (like your Desktop). Name the file something and click save. A PDF of the transaction history will be created in the location you selected. Now upload that PDF to your online portal or email a copy to your loan officer.
You'll want to try this on a computer vs a tablet or phone. And it's all going to be a little different if you have a Mac (though the same basic concept applies).
