Short answer yes. The bank statements will show the deposits each month into your account, along with outflows. Sometimes the underwriter will catch child support, other payments that may be missed on the mortgage loan application, that will result in a turn down of your loan.
Also, if you have deposits going into your account that cannot be sourced, this will result in the assets on your application to be reduced by the amount not sourced and seasoned by a eligible source.
Lastly, if you have bounced checks or nsf's fees, this can result in a turn-down of your loan because this is a sign that you cannot handle your money.
Joel Lobb (NMLS#57916)
Senior Loan Officer
Key Financial Mortgage Co. (NMLS #1800)*
107 South Hurstbourne Parkway*
Louisville, KY 40222*