Are Your Bank Statements Keeping You from Getting a Mortgage? - Quicken Loans Zing Blog

Bank statements are one of the many financial documents you’ll need to provide your mortgage lender when you’re getting approved for a home loan. But not all bank statements are created equal.

Check out this guide to make sure your statements include all of the information your mortgage lender is looking for.

Conventional Loans

Are Your Bank Statements Keeping You from Getting a Mortgage? - Quicken Loans Zing Blog

This group includes fixed and variable rate mortgages. If this is the type of loan you’re applying for, make sure your bank statements include all pages, even if they’re blank. That way, your lender can make sure your statements aren’t missing any transaction history. Your statements will also need to include the following:

  • Name of the bank or financial institution
  • Account holder’s name
  • Account number
  • Transaction history
  • Starting and ending balances with no large increases
  • URL for online statements
  • For all loan types, bank printouts retrieved from the branch must have a signature and stamp from the teller on the first or last page of the statement.

FHA and VA Loans

If you’re applying for an FHA or VA loan, your bank statements must meet the same requirements listed above for conventional loans, and include the following additional information:

  • Account holder’s address

Whether you’re applying for an FHA loan, or a 30-year fixed mortgage, making sure your bank statements include all of the necessary information will make your approval process that much easier.

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This Post Has 54 Comments

    1. Hi Danny:

      I’m going to get this to our Client Relations team to look into your issue and see if we can help you move along in the process.

    1. Hi Judith:

      if that’s easiest, we can have you do that. You should also be able to import your documents online whether you’re going through the process with Rocket Mortgage or with one of our Home Loan Experts. I’m going to get this to our Client Relations Team to see how we can best help you move forward. Thanks for reaching out!

    2. I have sent my last bank statement 2 times are you receiving the statements ? please let me know by e-mail

      1. Hi Ralph:

        While I don’t have access to your loan file to get you that information, I’m going to pass this along to our Client Relations team who should be able to give you more guidance and info. Thanks!

  1. Hi! I was pre approved yesterday and I am trying to submit some documents and get started on the process, It is asking for proof that I can pay the closing costs. I informed the lady yesterday that Ill be using my tax returns for closing costs. Is that going to become an issue?

    1. Hi Mercedes:

      Tax returns are acceptable as funds to close. That said, I’m going to get this to our Client Relations team to reach out and make sure we keep you on track in the process. Thanks!

    1. Hi Phil:

      Every situation is different, especially when it comes to self-employment. I’m going to recommend you speak with one of our Home Loan Experts at (888) 980-6716. They would be able to go over any options you might have. Have a good day!

  2. If we took a withdrawal from our 401k for part of the down payment and closing but used some of the cash for other things, does that matter as long as our bank statements shows we have enough money for the down payment and closing costs.

    1. Hi Curious:

      The amount used to qualify you is based on the balance (or, depending on the loan, a percentage of it) in your 401(k) account in this case. The most important thing is to make sure you still have enough cash for a down payment and closing costs. I don’t know if this is the case, but you should also be aware that there are tax implications to borrowing from your 401(k) for a down payment before retirement age. I’m also going to recommend you speak with one of our Home Loan Experts (888) 980-6716.

  3. I am working through the pre-approval process with my lender, and it is time to send in my bank statements. My concern is that I have a few times when the balance went negative. There are NO returned items. Just a couple of times when the daily balance went negative, but went back positive the next day or so. Is this something to be worried about?

    1. Hi Arthur:

      It may depend on the policies of the lender, but I can tell you that for us, we don’t worry about the number of times your checking account balance goes negative except on specific types of loans. In some cases, it may matter on an FHA or VA loan, but that’s only the case for us if you have certain other credit and debt risk factors. I would talk to your lender about their specific policies. If you would like to look into your options with us, one of our Home Loan Experts would be happy to work with you at (888) 980-6716. Hope this helps answer your question somewhat!

      Kevin Graham

  4. Trying have a documents .In Aug Mortgage trans to another bank . Trying to refi with new bank neither bank has old statements I need for refi what can I do

    1. Hi Sal:

      Unless you want to refi, there’s no need to refinance just because your mortgage is being transferred to the new bank. You’ll keep making the same payment and it goes to a new servicer. Or perhaps your mortgage has already transferred. If you wanted to refi, that’s a different scenario. I would be concerned if the bank you keep your savings in didn’t have your old statements. Assuming that’s what you’re looking for, most banks keep that type of information for at least a year. I would verify that that’s what they’re looking for and telling you they don’t have because if they don’t have your account statements, it might be time to find a new bank. That said, it doesn’t sound right. Just verify that it’s the statements. This would be a good idea because you literally can’t get a loan without it.

    1. Hi Freeddie:

      I see you’re working with us and I’m going to get this to our Client Relations team to make sure this information gets to the people working on your loan.


  5. Hi i have a closing date of March 15th and to do list by March 5th and they are asking for statements from checking and savings for me and my wife who is giving from her income tax for a gift to me and statements won’t be available until March 11 or 12th what can i do because i submitted a bank transaction pages from both checking and our savings account. Is that good enough to push through?

    1. Hi Maurice:

      Different banks have different policies and I really recommend talking to your lender. They would be able to give you the best detail.


    1. Hi Lester:

      That’s a good question, and it may depend on the type of mortgage you’re getting, whether it’s a purchase or refinance, etc. I’m going to get this to our Client Relations team.


  7. My concerns after reading comments where so many people have saved cash and did not put it into their Checking or savings accounts: why aren’t individuals searching for loans provided this in a list of IMPORTANT THINGS TO KNOW the FIRST DAY they fill out a loan. Then at least they can have bank statements at.closing at least showing two months of the amount of money the loan company is looking for???

    1. Hi Nelda:

      That’s a legitimate concern to have. That’s one of the primary reasons we exist here on the blog team. We are always looking for ways to simplify and clarify a mortgage process that’s traditionally been very complex. A checklist like this with resources on how to find additional information is a very good idea.

      Kevin Graham

    1. Hi Richard:

      I see you’re working with us, so I’m going to get this over to our Client Relations team to make sure we can have someone reach out to go over this with you, but in a mortgage transaction, regulations require that we source your money from a bank account or other trackable funding mechanism. Someone will be reaching out shortly. Have a good day!

      Kevin Graham

  8. I use a GreenDot bank registered through the FDIC. Its through WalMart. I have direct deposit, online statements etc… Basically everything a regular bank has. This includes a debit card with direct deposit. Been with this for almost two years now. Its more comfortable for me. I”m hoping this works for the FHA loan. If it does not, what should i do? I have always used this for my banking. Please advise.

    1. Hi James:

      As long as it’s a bank account, it should probably work. That said, I’m not familiar with all the services provided by GreenDot. One of our Home Loan Experts could confirm for you the type of information we need to see on the account and whether this particular service works. You can get in touch with them at (888) 980-6716.


  9. WOW! I have never been informed in this manner on how the my banking information will be used. I’m amazed at the information that was made available to me. In order to help me better under the process.

  10. We are in the same situation as many above–we have been saving in cash for a while because we do not have a savings account, and we didn’t want to run the risk of spending the money from our checking. However, our bank statements show a consistent history of ATM cash withdrawals that we can all show–can we deposit this cash if we can match the amount to ATM withdrawals?

    1. Hi Dexter:

      Typically, your funds would have to be in an account for a certain amount of time before they can be used in your transaction. That being said, the amount of time varies for every loan. I’m going to suggest you speak with one of our Home Loan Experts by calling (888) 980-6716. That way, you’ll get the best advice possible.

      Kevin Graham

  11. I have been saving for a long time, but I saved in cash, not in the bank. I deposited it today, and put all in my savings except what would be used for earnest money. Is this a problem when it comes to my statement???

    1. I have the same issue. I have it all saved in cash. I hope that’s not going to be a major issue. I’ve never kept a lot in my accounts.

      1. Hi Jamie:

        You do have to have the money in an account for a certain amount of time. That said, I’m going to recommend you speak with one of our Home Loan Experts. That way, we can fully work and all of your options. You can get in touch with us at (888) 980-6716.

        Kevin Graham

  12. I faxed and mailed you a summary of my accounts on one sheet of paper . Different accounts are clearly labled. Also, I send a full months statement with all of the data. I don’t what else to send you.

    1. Good morning, Stuart:

      I’m going to forward this on to our Client Relations team so we can be sure to contact you and make sure you’re on track. Thank you very much for reaching out!


    2. I have the same but they tell you more. then have you send it again…again. then tell you to use ( find my documents) . it didn’t have our bank on it. waiting on a response from.

      1. Hi Christina:

        I’m going to pass this along to our Client Relations team so we can get this straightened around for you. Happy holidays!


  13. I thought that Michael?, Emily’s boss, had recorded this info when we spoke on Saturday. What do I need to do?

    1. Hi Mary Elizabeth:

      I’m going to pass this along to our Client Relations team so we can have someone reach out, see what’s going on and make sure you’re on the right track. Have a great day!

      Kevin Graham

  14. on 4/18/2017i withdrawal 1300.00 dollar from my money network card use 1000.00 dollar for my earnest money

    1. Hi Edward:

      Is there something we can help with? I’m going to go ahead and get this over to our Client Relations team. Thanks for reaching out!

      Kevin Graham

    1. Hi Chandra:

      It’s exciting to hear that this has been helpful to you. I see that you’re working with us and looking for a home. I’m going to pass this along to our client relations team so they can get it to the right people and we can check in with you and answer your questions throughout the process. Thanks!

      Kevin Graham

  15. I had saved all my statements…only problem…I threw out the blank numbered pages…BAD!…the mortgage company wanted those pages too…I had to request copies from my bank.


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