Large Deposit: What is considered to be a “large deposit” in a borrower’s checking or savings account for FHA loans?

Answer: Any deposits over 1% of the adjusted value of the property require documentation. See the full guideline below. Reference: Handbook 4000.1 II.A.4.d.iii.(A) or II.A.5.c.iii.(A) The Lender must verify and document the existence of and amounts in the Borrower’s checking and savings accounts. For recently opened accounts and recent individual deposits of more than 1 […]

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