{"id":9897,"date":"2019-10-04T13:14:10","date_gmt":"2019-10-04T13:14:10","guid":{"rendered":"https:\/\/kenyahomes.co.ke\/blog\/?p=9897"},"modified":"2019-10-07T09:00:19","modified_gmt":"2019-10-07T09:00:19","slug":"what-do-mortgage-lenders-review-on-bank-statements","status":"publish","type":"post","link":"https:\/\/kenyahomes.co.ke\/blog\/what-do-mortgage-lenders-review-on-bank-statements\/","title":{"rendered":"What Do Mortgage Lenders Review on Bank Statements?"},"content":{"rendered":"\n<p>Know which financial weaknesses stand out to mortgage lenders so you can strengthen your chances of loan approval.<\/p>\n\n\n\n<p>Trained to spot financial mismanagement, mortgage lenders take careful time to review your finances before approving or denying you for a home loan. <\/p>\n\n\n\n<p>The role of the lender in approving a loan is to make sure you have enough money for a down payment and closing costs. And to assess whether you\u2019re able to regularly make your monthly payments. Part of how they do that is by reviewing your bank statements. That\u2019s why it\u2019s important to make sure all your documents and records are sorted and straightforward.<\/p>\n\n\n\n<h4 class=\"wp-block-heading\"><strong>Bank statement warning signs<\/strong><\/h4>\n\n\n\n<p><strong>Overdraft charges<br><\/strong>Lenders typically include your last two months of bank statements in their evaluation of your finances. Having a long list of overdraft charges in your account isn\u2019t the best indicator that you\u2019ll be a good borrower. No matter the circumstances, having a history of overdrafts or insufficient funds noted on your statement shows the&nbsp;lender&nbsp;that you might struggle at managing your finances.<\/p>\n\n\n\n<p><strong>Large deposits<br><\/strong>Another red flag to lenders is when a bank statement has irregular or lump-sum deposits. This can be seen as iffy because it could appear that those funds are coming from an illegal or unacceptable source. Unless you can provide an acceptable explanation for your large deposit, it\u2019s likely the lender will disregard those funds and apply your remaining dollars to their assessment of whether you qualify for a&nbsp;loan.<\/p>\n\n\n\n<p><strong>Signs of the bank of mom and dad<br><\/strong>One way to help ensure that your bank statement won\u2019t raise any red flags with lenders is by having consistent, tracked payments. If, for instance, you have automatic monthly payments to an individual rather than to a bank, lenders could see that as a non-disclosed credit account. This would be the case if you were to take out a loan from your parents and make car payments to them rather than an actual bank, for example.<\/p>\n\n\n\n<h4 class=\"wp-block-heading\"><strong>How to reduce bank statement scrutiny<\/strong><\/h4>\n\n\n\n<p>Take extra care of your transactions for at least a few months before applying for a&nbsp;mortgage. Lenders want to know that the money in your account has been there for some time, not just recently deposited. One or two big deposits into your account right before applying could indicate to lenders that the money you claim to have isn\u2019t actually yours or isn\u2019t a \u201cseasoned\u201d asset, meaning the money hasn\u2019t been in your account for at least two months.<\/p>\n\n\n\n<p>At the end of the day, it\u2019s best to start the process of organizing your bank activity and statements prior to applying for a loan. When you start looking for a home, it\u2019s best to have your financial information sorted. In case, your\u00a0dream home\u00a0hits the market and you have to move fast.<\/p>\n\n\n\n<p>If you keep your bank statements top of mind in the initial search phases, you may have an easier time applying for a loan and ultimately securing it. Remember: Underwriters review your accounts once more, just prior to closing. So, be sure to maintain healthy finances throughout the closing process too.<\/p>\n\n\n\n<p><br><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Know which financial weaknesses stand out to mortgage lenders so you can strengthen your chances of loan approval. Trained to spot financial mismanagement, mortgage lenders take careful time to review your finances before approving or denying you for a home loan. The role of the lender in approving a loan is to make sure you [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":9903,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"amp_status":"","footnotes":""},"categories":[29],"tags":[],"class_list":{"0":"post-9897","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-financing"},"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v22.7 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>What Do Mortgage Lenders Review on Bank Statements? - Kenya Homes<\/title>\n<meta name=\"description\" content=\"Mortgage Lenders want to know that the money in your account has been there for some time, not just recently deposited possibly a period of 2 years\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/kenyahomes.co.ke\/blog\/what-do-mortgage-lenders-review-on-bank-statements\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"What Do Mortgage Lenders Review on Bank Statements? - Kenya Homes\" \/>\n<meta property=\"og:description\" content=\"Mortgage Lenders want to know that the money in your account has been there for some time, not just recently deposited possibly a period of 2 years\" \/>\n<meta property=\"og:url\" content=\"https:\/\/kenyahomes.co.ke\/blog\/what-do-mortgage-lenders-review-on-bank-statements\/\" \/>\n<meta property=\"og:site_name\" content=\"Kenya Homes\" \/>\n<meta property=\"article:published_time\" content=\"2019-10-04T13:14:10+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2019-10-07T09:00:19+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/kenyahomes.co.ke\/blog\/wp-content\/uploads\/2019\/10\/debt-money-business-account-bank_1203-5389.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"626\" \/>\n\t<meta property=\"og:image:height\" content=\"417\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Kenya Homes\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Kenya Homes\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/kenyahomes.co.ke\/blog\/what-do-mortgage-lenders-review-on-bank-statements\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/kenyahomes.co.ke\/blog\/what-do-mortgage-lenders-review-on-bank-statements\/\"},\"author\":{\"name\":\"Kenya Homes\",\"@id\":\"https:\/\/kenyahomes.co.ke\/blog\/#\/schema\/person\/4b0235026e91b555cb0ec6e088aec6ae\"},\"headline\":\"What Do Mortgage Lenders Review on Bank Statements?\",\"datePublished\":\"2019-10-04T13:14:10+00:00\",\"dateModified\":\"2019-10-07T09:00:19+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/kenyahomes.co.ke\/blog\/what-do-mortgage-lenders-review-on-bank-statements\/\"},\"wordCount\":545,\"commentCount\":1,\"publisher\":{\"@id\":\"https:\/\/kenyahomes.co.ke\/blog\/#organization\"},\"image\":{\"@id\":\"https:\/\/kenyahomes.co.ke\/blog\/what-do-mortgage-lenders-review-on-bank-statements\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/kenyahomes.co.ke\/blog\/wp-content\/uploads\/2019\/10\/debt-money-business-account-bank_1203-5389.jpg\",\"articleSection\":[\"Financing\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/kenyahomes.co.ke\/blog\/what-do-mortgage-lenders-review-on-bank-statements\/#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/kenyahomes.co.ke\/blog\/what-do-mortgage-lenders-review-on-bank-statements\/\",\"url\":\"https:\/\/kenyahomes.co.ke\/blog\/what-do-mortgage-lenders-review-on-bank-statements\/\",\"name\":\"What Do Mortgage Lenders Review on Bank Statements? - Kenya Homes\",\"isPartOf\":{\"@id\":\"https:\/\/kenyahomes.co.ke\/blog\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/kenyahomes.co.ke\/blog\/what-do-mortgage-lenders-review-on-bank-statements\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/kenyahomes.co.ke\/blog\/what-do-mortgage-lenders-review-on-bank-statements\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/kenyahomes.co.ke\/blog\/wp-content\/uploads\/2019\/10\/debt-money-business-account-bank_1203-5389.jpg\",\"datePublished\":\"2019-10-04T13:14:10+00:00\",\"dateModified\":\"2019-10-07T09:00:19+00:00\",\"description\":\"Mortgage Lenders want to know that the money in your account has been there for some time, not just recently deposited possibly a period of 2 years\",\"breadcrumb\":{\"@id\":\"https:\/\/kenyahomes.co.ke\/blog\/what-do-mortgage-lenders-review-on-bank-statements\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/kenyahomes.co.ke\/blog\/what-do-mortgage-lenders-review-on-bank-statements\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/kenyahomes.co.ke\/blog\/what-do-mortgage-lenders-review-on-bank-statements\/#primaryimage\",\"url\":\"https:\/\/kenyahomes.co.ke\/blog\/wp-content\/uploads\/2019\/10\/debt-money-business-account-bank_1203-5389.jpg\",\"contentUrl\":\"https:\/\/kenyahomes.co.ke\/blog\/wp-content\/uploads\/2019\/10\/debt-money-business-account-bank_1203-5389.jpg\",\"width\":626,\"height\":417,\"caption\":\"What Do Mortgage Lenders Review on Bank Statements?\"},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/kenyahomes.co.ke\/blog\/what-do-mortgage-lenders-review-on-bank-statements\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/kenyahomes.co.ke\/blog\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"What Do Mortgage Lenders Review on Bank Statements?\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/kenyahomes.co.ke\/blog\/#website\",\"url\":\"https:\/\/kenyahomes.co.ke\/blog\/\",\"name\":\"Kenya Homes\",\"description\":\"Simply Housing You\",\"publisher\":{\"@id\":\"https:\/\/kenyahomes.co.ke\/blog\/#organization\"},\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/kenyahomes.co.ke\/blog\/?s={search_term_string}\"},\"query-input\":\"required name=search_term_string\"}],\"inLanguage\":\"en-US\"},{\"@type\":\"Organization\",\"@id\":\"https:\/\/kenyahomes.co.ke\/blog\/#organization\",\"name\":\"Kenya Homes\",\"url\":\"https:\/\/kenyahomes.co.ke\/blog\/\",\"logo\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/kenyahomes.co.ke\/blog\/#\/schema\/logo\/image\/\",\"url\":\"https:\/\/kenyahomes.co.ke\/blog\/wp-content\/uploads\/2018\/11\/Kenya-Homes-Logo-01.jpg\",\"contentUrl\":\"https:\/\/kenyahomes.co.ke\/blog\/wp-content\/uploads\/2018\/11\/Kenya-Homes-Logo-01.jpg\",\"width\":2084,\"height\":2084,\"caption\":\"Kenya Homes\"},\"image\":{\"@id\":\"https:\/\/kenyahomes.co.ke\/blog\/#\/schema\/logo\/image\/\"}},{\"@type\":\"Person\",\"@id\":\"https:\/\/kenyahomes.co.ke\/blog\/#\/schema\/person\/4b0235026e91b555cb0ec6e088aec6ae\",\"name\":\"Kenya Homes\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/kenyahomes.co.ke\/blog\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/secure.gravatar.com\/avatar\/23d546598dc32250b33e6c6df7277ece906fd3f89f5dc9dece0f9aa2e7060e3d?s=96&d=mm&r=g\",\"contentUrl\":\"https:\/\/secure.gravatar.com\/avatar\/23d546598dc32250b33e6c6df7277ece906fd3f89f5dc9dece0f9aa2e7060e3d?s=96&d=mm&r=g\",\"caption\":\"Kenya Homes\"},\"url\":\"https:\/\/kenyahomes.co.ke\/blog\/author\/atx0i\/\"}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"What Do Mortgage Lenders Review on Bank Statements? - Kenya Homes","description":"Mortgage Lenders want to know that the money in your account has been there for some time, not just recently deposited possibly a period of 2 years","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/kenyahomes.co.ke\/blog\/what-do-mortgage-lenders-review-on-bank-statements\/","og_locale":"en_US","og_type":"article","og_title":"What Do Mortgage Lenders Review on Bank Statements? - Kenya Homes","og_description":"Mortgage Lenders want to know that the money in your account has been there for some time, not just recently deposited possibly a period of 2 years","og_url":"https:\/\/kenyahomes.co.ke\/blog\/what-do-mortgage-lenders-review-on-bank-statements\/","og_site_name":"Kenya Homes","article_published_time":"2019-10-04T13:14:10+00:00","article_modified_time":"2019-10-07T09:00:19+00:00","og_image":[{"width":626,"height":417,"url":"https:\/\/kenyahomes.co.ke\/blog\/wp-content\/uploads\/2019\/10\/debt-money-business-account-bank_1203-5389.jpg","type":"image\/jpeg"}],"author":"Kenya Homes","twitter_card":"summary_large_image","twitter_misc":{"Written by":"Kenya Homes","Est. reading time":"3 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/kenyahomes.co.ke\/blog\/what-do-mortgage-lenders-review-on-bank-statements\/#article","isPartOf":{"@id":"https:\/\/kenyahomes.co.ke\/blog\/what-do-mortgage-lenders-review-on-bank-statements\/"},"author":{"name":"Kenya Homes","@id":"https:\/\/kenyahomes.co.ke\/blog\/#\/schema\/person\/4b0235026e91b555cb0ec6e088aec6ae"},"headline":"What Do Mortgage Lenders Review on Bank Statements?","datePublished":"2019-10-04T13:14:10+00:00","dateModified":"2019-10-07T09:00:19+00:00","mainEntityOfPage":{"@id":"https:\/\/kenyahomes.co.ke\/blog\/what-do-mortgage-lenders-review-on-bank-statements\/"},"wordCount":545,"commentCount":1,"publisher":{"@id":"https:\/\/kenyahomes.co.ke\/blog\/#organization"},"image":{"@id":"https:\/\/kenyahomes.co.ke\/blog\/what-do-mortgage-lenders-review-on-bank-statements\/#primaryimage"},"thumbnailUrl":"https:\/\/kenyahomes.co.ke\/blog\/wp-content\/uploads\/2019\/10\/debt-money-business-account-bank_1203-5389.jpg","articleSection":["Financing"],"inLanguage":"en-US","potentialAction":[{"@type":"CommentAction","name":"Comment","target":["https:\/\/kenyahomes.co.ke\/blog\/what-do-mortgage-lenders-review-on-bank-statements\/#respond"]}]},{"@type":"WebPage","@id":"https:\/\/kenyahomes.co.ke\/blog\/what-do-mortgage-lenders-review-on-bank-statements\/","url":"https:\/\/kenyahomes.co.ke\/blog\/what-do-mortgage-lenders-review-on-bank-statements\/","name":"What Do Mortgage Lenders Review on Bank Statements? - Kenya Homes","isPartOf":{"@id":"https:\/\/kenyahomes.co.ke\/blog\/#website"},"primaryImageOfPage":{"@id":"https:\/\/kenyahomes.co.ke\/blog\/what-do-mortgage-lenders-review-on-bank-statements\/#primaryimage"},"image":{"@id":"https:\/\/kenyahomes.co.ke\/blog\/what-do-mortgage-lenders-review-on-bank-statements\/#primaryimage"},"thumbnailUrl":"https:\/\/kenyahomes.co.ke\/blog\/wp-content\/uploads\/2019\/10\/debt-money-business-account-bank_1203-5389.jpg","datePublished":"2019-10-04T13:14:10+00:00","dateModified":"2019-10-07T09:00:19+00:00","description":"Mortgage Lenders want to know that the money in your account has been there for some time, not just recently deposited possibly a period of 2 years","breadcrumb":{"@id":"https:\/\/kenyahomes.co.ke\/blog\/what-do-mortgage-lenders-review-on-bank-statements\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/kenyahomes.co.ke\/blog\/what-do-mortgage-lenders-review-on-bank-statements\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/kenyahomes.co.ke\/blog\/what-do-mortgage-lenders-review-on-bank-statements\/#primaryimage","url":"https:\/\/kenyahomes.co.ke\/blog\/wp-content\/uploads\/2019\/10\/debt-money-business-account-bank_1203-5389.jpg","contentUrl":"https:\/\/kenyahomes.co.ke\/blog\/wp-content\/uploads\/2019\/10\/debt-money-business-account-bank_1203-5389.jpg","width":626,"height":417,"caption":"What Do Mortgage Lenders Review on Bank Statements?"},{"@type":"BreadcrumbList","@id":"https:\/\/kenyahomes.co.ke\/blog\/what-do-mortgage-lenders-review-on-bank-statements\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/kenyahomes.co.ke\/blog\/"},{"@type":"ListItem","position":2,"name":"What Do Mortgage Lenders Review on Bank Statements?"}]},{"@type":"WebSite","@id":"https:\/\/kenyahomes.co.ke\/blog\/#website","url":"https:\/\/kenyahomes.co.ke\/blog\/","name":"Kenya Homes","description":"Simply Housing You","publisher":{"@id":"https:\/\/kenyahomes.co.ke\/blog\/#organization"},"potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/kenyahomes.co.ke\/blog\/?s={search_term_string}"},"query-input":"required name=search_term_string"}],"inLanguage":"en-US"},{"@type":"Organization","@id":"https:\/\/kenyahomes.co.ke\/blog\/#organization","name":"Kenya Homes","url":"https:\/\/kenyahomes.co.ke\/blog\/","logo":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/kenyahomes.co.ke\/blog\/#\/schema\/logo\/image\/","url":"https:\/\/kenyahomes.co.ke\/blog\/wp-content\/uploads\/2018\/11\/Kenya-Homes-Logo-01.jpg","contentUrl":"https:\/\/kenyahomes.co.ke\/blog\/wp-content\/uploads\/2018\/11\/Kenya-Homes-Logo-01.jpg","width":2084,"height":2084,"caption":"Kenya Homes"},"image":{"@id":"https:\/\/kenyahomes.co.ke\/blog\/#\/schema\/logo\/image\/"}},{"@type":"Person","@id":"https:\/\/kenyahomes.co.ke\/blog\/#\/schema\/person\/4b0235026e91b555cb0ec6e088aec6ae","name":"Kenya Homes","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/kenyahomes.co.ke\/blog\/#\/schema\/person\/image\/","url":"https:\/\/secure.gravatar.com\/avatar\/23d546598dc32250b33e6c6df7277ece906fd3f89f5dc9dece0f9aa2e7060e3d?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/23d546598dc32250b33e6c6df7277ece906fd3f89f5dc9dece0f9aa2e7060e3d?s=96&d=mm&r=g","caption":"Kenya Homes"},"url":"https:\/\/kenyahomes.co.ke\/blog\/author\/atx0i\/"}]}},"_links":{"self":[{"href":"https:\/\/kenyahomes.co.ke\/blog\/wp-json\/wp\/v2\/posts\/9897","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/kenyahomes.co.ke\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/kenyahomes.co.ke\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/kenyahomes.co.ke\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/kenyahomes.co.ke\/blog\/wp-json\/wp\/v2\/comments?post=9897"}],"version-history":[{"count":4,"href":"https:\/\/kenyahomes.co.ke\/blog\/wp-json\/wp\/v2\/posts\/9897\/revisions"}],"predecessor-version":[{"id":9919,"href":"https:\/\/kenyahomes.co.ke\/blog\/wp-json\/wp\/v2\/posts\/9897\/revisions\/9919"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/kenyahomes.co.ke\/blog\/wp-json\/wp\/v2\/media\/9903"}],"wp:attachment":[{"href":"https:\/\/kenyahomes.co.ke\/blog\/wp-json\/wp\/v2\/media?parent=9897"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/kenyahomes.co.ke\/blog\/wp-json\/wp\/v2\/categories?post=9897"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/kenyahomes.co.ke\/blog\/wp-json\/wp\/v2\/tags?post=9897"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}