How in-depth will mortgage lenders go into bank statements?

My fiance and I are purchasing our first home, rather, I should say SHE is buying our first home. As a result of bad decisions with credit cards about 5 years ago and my slow ability to repay back those credit cards, my credit score is garbage. She applied for a pre-approval through Bank of America and was pre-approved for $350,000. We found a home we love, placed a bid, it was accepted, and now begins the loan approval process. They are requestiong copies of two moths worth of Bank Statements. In order to pay rent, bills, and other living expenses, I am constantly transferring money into my Fiance's accounts to help pay bills as well as for items related to our upcoming wedding. Also, in order to contribute to the downpayment, I sold a guitar of mine on craigslist for $4,700 and put that into our savings account. Our concern is that Bank of America is going to look at all of my deposits and begin to question why I'm putting money into her accounts, and where that money is coming from. I'd really hate to be the reason that this loan won't be approved, and I'd pretty much hate myself a whole lot if I am the reason we can't obtain this home.

they looking for evidence that she can make the payments. a written statement wouldn't be out of line, esp. about the unusual payments for wedding items.

Lenders are now under much more stringent scrutiny since this economic meltdown--whole bunch of new regulations just came down the pike. They are going to look into everything, but don't know how these deposits will affect the loan. Pre-approved usually means pre-approved.

Yeah, they are going to see non-income money coming in and suspect she is either cheating on her taxes, or laundering illegal money.

You should be fine Obviously, if she is getting this loan on her own, it is because her income is enough to support it. That means income from her job, not from her *roommate*. She can easily explain your deposits without worry. The only way she should be worried is if her income from her job wouldn't afford this mortgage.

Related articles

If 1 day U.S. is owned by loans from (e.g.) Japan because we over-borrowed for war, would U learn Japanese?
how does forclosure happen?
where is the most likely place to get a home equity loan on a mobile home?
First time home loan without much credit...?
I have a capital one home equity line of credit, variable rate. How high or low can they fluctuate?