As long as you have the proper tax forms and bank statements, you can use gambling winnings to make a down payment on a home. Lenders will request a copy of the W-2 tax form for your gambling earnings as well as copies of your bank statements for the two months prior to submitting your mortgage application. Lenders may also request a copy of your bank statement that shows when you deposited your gambling earnings if it occurred more than two months ago.
Please note that some lenders are particular about verifying the source of funds for a down payment and we provide a comprehensive review of what size down payment you need to buy a home on FREEandCLEAR.
Finally, we always recommend that you shop multiple lenders to find the mortgage with the lowest rate and fees. You can review lenders in your area by clicking INTEREST RATES We advise you to contact at least four lenders as underwriting requirements for items such as a down payment can vary.