When do bank statements get reviewed by mortgage lender?
Lenders want the money to sit in your account for a while so they can be sure it did not come from any suspicious sources. If your lender wants it to be in your account for two months, then it has to be. You can write up a contract with the closing date 2 months after the initial deposit. If the seller agrees to that then you shouldn’t have a problem. You can make an offer at any point in the mortgage approval process (whether they’ve reviewed your bank statements or not). However, you will not get the formal mortgage approval until all lender requirements have been satisfied – including that money sitting in your bank for two months. So if you got an offer accepted today and only made the deposit yesterday, you’ll probably lose the house because the seller probably won’t wait 60 days just to get the mortgage approval! Better off waiting until that two months has passed before making an offer. You can also try to go to another lender, but they may take the same issue with the deposit.
