FHA loan processors – Question about proof of income requirements?
My loan processor has told me to make sure I document all large deposits (like pay checks, gifts from family, etc.) because “they’ll want to know where the money came from”.
I guess my question is: What is the definition of “large”?
I have a small side business doing private consulting. At most, I make maybe $ 200/week. This is all cash. If I deposit this, will I need to prove where it came from? And how would I do that since it’s cash?