(Lender rules) Verus Mortgage Capital · as of Nov 11, 2024
Verus bank
statement income.
How Verus Mortgage Capital's published bank statement guidelines turn deposits into qualifying income, and how DepositDesk applies them to your file. Every figure links back to the lender's own document.
(01) The rules
What Verus publishes.
| Rule | What the published guidelines say |
|---|---|
| Personal statements | Only transfers or deposits from the business account(s) count, ÷ number of statements. Ownership at least 20%; 2 months of business statements. |
| Business and co-mingled | Standard 50% expense factor, or a third-party expense letter (minimum 10%), or a third-party P&L. × ownership ÷ 12 or 24. Ownership at least 25% (co-mingled: 100%). |
| Large deposits | Any deposit over 50% of average monthly sales must be sourced or excluded. |
| NSF | One or more returned checks on a day = 1 occurrence. If any in the most recent 3 months, up to 3 in 12 months; if none, up to 5. |
| Third-party P&L | Deposits no more than 20% below P&L revenue; income is the lower of P&L net or deposits, ÷ months. |
Calculated per Verus Mortgage Capital's published guidelines (as of Nov 11, 2024). DepositDesk is not affiliated with Verus. Guidelines change without notice; confirm with your Verus account executive before you quote.
(02) Worked example
The math on a sample file.
$360,000 eligible business deposits over 12 months, 100% owned: × (1 − 50%) ÷ 12 = $15,000 a month. With a 25% expense letter: $22,500.
(03) In DepositDesk
What the worksheet flags.
- Personal statements: deposits that aren't business transfers
- Ownership under 25% (business) or 20% (personal)
- NSF over the 3/5 tolerance
The worksheet, CSV and lender PDF all carry the line “Calculated per Verus Mortgage Capital's published guidelines (as of Nov 11, 2024). DepositDesk is not affiliated with Verus.” so the underwriter sees which rules you used.
(04) Sources
Read the lender's own documents.
DepositDesk is independent and isn't affiliated with, endorsed by or approved by Verus Mortgage Capital. Names are used only to identify whose published guidelines are applied.
(05) FAQ
Questions brokers ask.
How does Verus calculate bank statement income?+
Personal statements: Only transfers or deposits from the business account(s) count, ÷ number of statements. Ownership at least 20%; 2 months of business statements. Business and co-mingled: Standard 50% expense factor, or a third-party expense letter (minimum 10%), or a third-party P&L. × ownership ÷ 12 or 24. Ownership at least 25% (co-mingled: 100%). Large deposits: Any deposit over 50% of average monthly sales must be sourced or excluded.
Is DepositDesk affiliated with Verus?+
No. DepositDesk is an independent tool for brokers. It applies Verus's publicly published rules as of Nov 11, 2024 and links the source documents. The lender's underwriter determines final qualifying income.
How do I run a file with Verus's rules?+
Open the DepositDesk tool, choose Verus Mortgage Capital under Lender rules, then drop in the borrower's statements. The worksheet and PDF are labelled with the lender and the guideline date.
(Next step)
Run your next file with Verus rules.
Pick the lender, drop in the statements, and export a worksheet labelled with the guideline date. Your first file is free; statements never leave your browser.