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Mortgage Trouble

I am in the process of buying my first home, and have gotten myself in a pickle.

I am getting an FHA loan, requiring 3.5% down. When talking to the lender about this, he explained the process of procuring bank statements to show that I have enough money to pay for this.

He explained that they will not count any money that cannot be traced, meaning if I sell a toy or something without a title and deposit cash they won't count it.

Because I have more than enough money in my account to pay the down payment, I disregarded this. Now a month later and a week before closing, I sold a toy and deposited 5k cash into my account. When I mentioned this to him he said this could kill the loan if they ask for this months bank statement, as I wouldn't be able to show where this money came from.

Why would they care if I deposit more money into my account that already has enough money? Will this really risk the loan, and if so is there anything I can do about it?

submitted by /u/backwards703
[link] [comments]

source https://www.reddit.com/r/RealEstate/comments/j2bent/mortgage_trouble/
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