How to Read a Bank Statement

"Hello! My name is Brett Staggs and on behalf of Expert Village, I am going to show you how to organize your income and assets for a first time home buyer. When buying a first home, you also need to really get your bank statements organized and make sure you have documentation. That will be a huge determining point in what kind of loan you can qualify for. Your bank statement is only good to a bank if you have two months of all the pages. Some of the pages are advertisements are disclaimers. Believe it or not, the bank has to see it. The majority of bank statements, it will say 1 of 4 or page 1 of 6 and once it says that, the bank is going to want to see 1 of 6, 2 of 6, 3 of 6 and they are going to want to see every single page. So if you don't have two months of your bank statement pages, then what you can do is go to your bank for free and ask them to give you what we call a VOD which means verification of deposit. What that will do is give you a document that shows you your two month average. So it will be just one number that will tell you your average over two months and that is just as good as two months of bank statements."