Reviewers want deposits that are regular, explainable and consistent with your line of work. They also look for overdrafts, unexplained large deposits and transfers that make the totals look bigger than they are.
What reads well
- Deposits that arrive on a pattern, whether weekly, monthly or by project.
- Payers you can name, with invoices that match.
- A balance that stays positive.
- A business that looks the same at the end of the window as the start.
What raises questions
- A large one-time deposit with no paper trail.
- Frequent overdrafts or non-sufficient funds items.
- Transfers between your own accounts that appear as deposits twice.
- A sharp rise right before you apply.
- Missing pages or missing months.
How to answer a question
Keep your response short, factual and documented. A reviewer who sees an invoice and a bank record for a large deposit can close the question in a minute. A vague answer starts a longer review.
Why reviewers care about trends
Income that is growing is encouraging. Income that is falling prompts a closer look and may lead to a lower figure being used. The trend is part of the story, so give a reasonable explanation for any change.
Related
Ready to talk it through?
Apply online or call. A loan officer will review your situation.
Frequently asked questions
Are overdrafts a deal-breaker?
Not necessarily. A small number may be reviewed and explained on select programs. Frequent overdrafts are a larger concern.