Mortgage Loans & Bank Statement Copies?
What are lenders looking at when they request copies of bank statements as a part of the application/documentation process? Are they going to scrutinize “where” I spend my funds or are they merely looking at deposits?
Currently interest only loan, statement says…You may elect to pay and additional $ 245.94 in order to fully amortize your loan. Does this mean if we pay this amount additional we will pay the loan off as scheduled or if we pay more than that additionally every month (which we do) we will pay off early?