Real estate is an expensive investment. Most people do not buy a home with cash. If you are not a millionaire, you probably take loan from lender. So you should learn to think like them. What are they looking at on your loan package application? They are definitely looking at the source of your funds for your down payment. Your lender will probably ask for the last two or three months on your liquid assets. What are the liquid assets? They include your savings accounts, checking accounts, money market funds, stock statements, mutual funds, money market funds, 401k, and your retirement accounts.
If you want to avoid large deposits and withdrawals, you probably don?t want to move your money between accounts during your loan request. Your lender will probably ask for a lot of your financial documents such as deposit receipts, and cancelled checks. They want to have all the paper that they can have.
Don?t get mad at your lender. They are just trying to do the right thing for you. Buying a home is a big important decision, and it costs a lot of money. They must try to prevent potential fraud, and they must try to ensure the quality. You don?t want to make their jobs harder. You do not want to move money around, even if you are consolidating your funds. You also do not want to switch banks, when you are talking to a loan officer either. If it is possible, you don?t want to change job. It may be very bad to your loan application.
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