Upload two months or two years of bank statements and get every deposit over your threshold listed with date, amount, description and page, with own-account transfers, loan proceeds and gift funds already tagged. From $99 a month.
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Every agency asks the same question about a purchase file: where did the money come from. Fannie Mae defines a large deposit as a single deposit that exceeds 50% of the total monthly qualifying income for the loan. FHA moved to the same 50% test, based on total monthly effective income, for case numbers assigned on or after August 19, 2024. Freddie Mac uses 50% of qualifying income plus any income derived from assets, and only requires sourcing for deposits made within 60 days of the application date.
The rule fits on one line. The work does not. A processor has to read every statement, compute the threshold for this borrower, find each deposit that crosses it, ignore the ones whose source is printed on the statement (payroll direct deposits, for example), match transfers between the borrower's own accounts so they are not chased twice, and then write the conditions for the rest. On a two-borrower file with three accounts that is easily 40 to 60 pages, and a missed deposit is exactly what a QC reviewer or an investor finds after closing.
LenderAnalyzer does the reading part. You upload the statements (PDF, scan or phone photo, any US bank), set the threshold in dollars, and get a list of large deposits to source, each with its date, amount, description, source file and page number. Transfers between the borrower's own accounts, loan proceeds, tax refunds, refunds and gift funds are tagged before you start, so the list you condition is the list that actually needs a letter of explanation.
The software does not decide whether a deposit is acceptable. That stays with your underwriter. What it removes is the hour of scrolling, adding and cross-checking that comes before the decision.
Enter the dollar figure for this loan, usually 50% of total monthly qualifying income for Fannie Mae, 50% of total monthly effective income for FHA, or your own overlay for VA, jumbo and non-QM programs. If you leave it blank, LenderAnalyzer uses half of the borrower's average monthly eligible deposits as a starting point, which is a sensible screen for bank statement income files.
The output is a sorted list of large deposits to source, largest first, each carrying the statement file name and page number. A processor can open the exact page, an underwriter can verify the figure in seconds, and the same list exports to Excel, CSV or JSON for your condition log.
A $15,000 deposit into checking that came out of the borrower's own savings account is not new money. LenderAnalyzer matches the outgoing debit on one statement to the incoming credit on the other, across multiple uploads, and tags the pair as a transfer between the borrower's own accounts. You still source the savings balance, but you do not write two conditions for one movement of funds.
Deposits described as loan disbursements, line of credit draws, merchant cash advances or SBA proceeds are tagged as loan proceeds, which matters because borrowed funds create a liability you have to count. Deposits described as gift funds are tagged as gifts, so the file gets a gift letter and donor documentation instead of a generic letter of explanation.
Fannie Mae and Freddie Mac both say a deposit whose source is clearly identified on the statement, such as a payroll direct deposit from the borrower's employer, needs no further documentation. The deposit list shows the full transaction description next to each amount, so your team can clear those on sight and focus the borrower's letter on the deposits that are genuinely unexplained.
Each statement is reconciled against its own printed opening and closing balances. If a page is missing or a statement has been edited so the transactions no longer add up, the totals will not tie out and the file is flagged. That protects the sourcing work from the most common way it goes wrong, which is working from an incomplete or altered statement.
For 12 or 24 month bank statement loans the same upload also produces qualifying monthly income, with excluded deposits listed and explained, the ownership percentage and expense factor applied, and the lower of the full-period and recent-period figures. Sourcing and income come out of one review instead of two.
Prices are each vendor's own published figures, checked October 2026. Where a vendor publishes no price, the table says so.
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| Option | How large deposits get found | Published price | Main limitation | Best for |
|---|---|---|---|---|
| LenderAnalyzer This page | Uploaded statements read in minutes; every deposit over your dollar threshold listed with file and page; own-account transfers, loan proceeds and gifts tagged | From $99 a month flat, with volume and enterprise tiers | Works from statements the borrower provides; does not pull data directly from the bank | Processors and underwriters sourcing deposits on purchase, bank statement and non-QM files |
| Manual review | A processor reads each statement, computes the threshold and marks deposits by hand | Staff time only | Slow on multi-account files and easy to miss a deposit or a matching transfer | Simple single-account files with a few deposits |
| Consumer-permissioned VOA reports | The borrower logs in to the bank; the report lists balances and transactions, and some vendors flag large transactions | Not published by the major providers; priced per report under contract | The borrower has to complete the bank login, and accounts at some institutions do not connect | Digital mortgage lenders whose borrowers apply online |
| Ocrolus | Document capture and analytics on bank statements and other income documents | Not published; quoted by sales | Enterprise sales cycle and contract before you see a price | Large lenders that want one vendor across many document types |
| ClearStaq | Bank statement and tax return parsing with income verification and fraud signals | $74 to $524 a month billed annually, credit-based, plus a 30 day trial | Credits are counted per document, so volume drives the plan you need | Lenders that want published self-serve pricing and broad document coverage |
Comparison compiled by LenderAnalyzer from public vendor materials; see the date noted above each table. Competitor names are trademarks of their respective owners; figures may change, so verify current details with each vendor.
Computed deterministically from every extracted transaction, every figure traceable to its source line.
Computed across the full statement period, carried forward day by day.
Deposits vs withdrawals and net flow, broken down month by month.
Every insufficient-funds and overdraft incident counted, with fees totaled.
Recurring deposits grouped into income streams with estimated monthly amounts.
Debits to other lenders and funders detected and totaled per month.
Days below zero across the period, a direct stress signal.
The biggest credits with dates and sources, concentration flagged.
Automatic red and yellow flags your analysts can review in seconds.
Drop in PDFs, scans or photos, one statement or a multi-month package, from any bank.
Every transaction is extracted, then cash flow, balances, income streams, NSF activity and debt payments are computed.
Read the underwriting snapshot, download the Excel report, or pull structured JSON into your LOS via API.
28 lending document types extracted out of the box, build the complete picture of an applicant's financial situation.
Common questions from lending and credit teams.
For a Fannie Mae loan, a large deposit is a single deposit that exceeds 50% of the total monthly qualifying income for the loan. FHA uses 50% of total monthly effective income. Freddie Mac uses 50% of qualifying income plus any income derived from assets. Lenders often add a lower overlay of their own.
The lender identifies each deposit over the threshold on the bank statements, then asks the borrower for documentation of where it came from: a letter of explanation, a closing statement for an asset sale, a gift letter with donor proof, or a statement from the account the money was transferred from. Unsourced funds are subtracted from verified assets.
Under Fannie Mae's Selling Guide, documentation or explanation for large deposits is not required on a refinance, but the lender still has to make sure any borrowed funds and the related debt are counted. On purchases, deposits must be sourced when the funds are needed for down payment, closing costs or reserves.
Since FHA Info 2024-30, effective for case numbers assigned on or after August 19, 2024, FHA requires documentation for individual deposits of more than 50% of the total monthly effective income. The lender must also confirm the deposits are consistent with the borrower's income and savings history and that no new debt funded the down payment.
Freddie Mac requires sourcing for large deposits made no more than 60 days before the application date when the funds are needed to qualify. Fannie Mae and FHA review the deposits on the statements in the file, typically the most recent two months for asset verification, so a deposit older than those statements usually is not reviewed.
Fannie Mae lists examples such as the borrower's written explanation, proof of ownership of an asset that was sold, or a copy of a wedding invitation to support receipt of gift funds. Transfers from another account the borrower owns are documented with that account's statement. Deposits whose source is printed on the statement need nothing more.
Software can find, total and organize them, which is most of the time spent. LenderAnalyzer lists every deposit over your threshold with its file and page, matches transfers between the borrower's own accounts and tags loan proceeds and gift funds. Deciding whether a borrower's explanation is acceptable stays with your underwriter.
No. You upload the statements the borrower provided, or send them through the REST API on the Pro plan, and get the results back as Excel, CSV or JSON. That works for every US bank, including small banks and credit unions that consumer-permissioned data vendors often cannot connect to.
LenderAnalyzer starts at $99 a month flat, with volume and enterprise tiers, and there is no per-report fee. Consumer-permissioned VOA vendors and enterprise document platforms such as Ocrolus do not publish prices and quote per report or per contract. ClearStaq publishes plans from $74 to $524 a month billed annually.
Yes, if it crosses the threshold. A peer-to-peer payment from another person is new money in the account and has to be sourced like any other deposit. LenderAnalyzer keeps those payments in the deposit list with their full description, so you can see who sent the money before you write the condition.
How credit teams run these calculations by hand, so you can see exactly what the software automates.
Qualifying income from 12 or 24 months of statements, with exclusions listed.
Check that statements tie out before you rely on them.
Spot edited statements and deposits that do not add up.
Bank statement and asset depletion files, analyzed in minutes.
Income, assets and cash flow from the documents in the file.
Verify income without paying for every VOE pull.
The patterns that show up when deposits are padded.
The income math behind the sourcing threshold.
The mortgage-specific features to check, and what each option costs.
Analyze your first statements free, plans from $99/month, 50% off billed annually.
