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There are several things a mortgage company may use bank statements to verify, but the primarily the statements are used to verify cash assets and/or cash flow.

The lender needs to show you have a certain amount of reserves on hand and that you're not running a negative household cash flow. If you say your account has $4,000 in it but the lender sees that it consistently leaves the account a week later and the account ends with a balance of -$300 then you truly don't have $4,000 available cash.

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14y ago

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