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Hi everybody! So I have some questions. My husband and I have been pre-approved for a USDA loan. Found a house this past Monday, made an offer on Tuesday, and it was accepted Tuesday evening. Home inspection will be next week and appraisal after that. Here's my question. I've been reading up on what we will need to have for official loan approval so that we are prepared and sort of know what to expect. My biggest concern is bank statements. I'm a full time hair stylist who does close friends and families hair in my free time. I'm also do photography as a hobby. Money that I make from these things, I have deposited into my checking account. My loan officer said that they want explanations on large non-wage deposits. Sooo I'm really nervous. I don't deposit enough for it to be claimed as another income for the year, but I'm wondering if they will accept a written explanation of my "side jobs", since I have no REAL physical proof that this is where that money has came from. I was told not to worry and just to be honest about the origination of the money, but I'm that kind of person that needs peace of mind through reassurance! Ha! Any input will help! Thanks. :-)
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