My husband and I are saving up for a down payment on a house. I've heard that mortgage lenders will look at your statement history to make sure you're a good candidate for a loan. My issue is that we just got married in May and received a lot of monetary gifts - and some are still trickling in. A friend of mine said that she needed to justify any large deposits when applying for a loan, and if it was a gift, she needed to get a letter from the person who had given her the money. I don't want to deal with that, so I just want to know if there's a general rule as to how far back they go (3 months? 6 months? 1 year?) so I can make sure we're in the clear of our wonky bank statements these past few months. Thank you!
Read more: How far back will a mortgage lender look at your bank statements?
