Bank Statement

The periodic itemization of transactions that is provided by depository institutions to its clients. Many lenders will request copies of the applicant's bank statements to document existence and source of sufficient funds, as well as to provide an alternative method for documenting income. [With "limited documentation" loan program, the applicant can use the average monthly deposits for the past 12 months as his or her qualifying income.] For more information, see the "Analyzing Assets" article in the "Loan Process" section.

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Real Estate 101

Real Estate 101

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