Tuesday, September 4, 2012

Home buying tip: Moving Funds in and out of bank accounts during and right before your home buying transaction

There is so much to remember when purchasing a home. One very important tip when it comes to buying your home is to be sure NOT to make any deposits into your bank accounts that can not be explained or sourced with documentation.

My advice to my clients is to always check with me before moving any funds in or out of a bank account. Unfortunately a move like this can compromise your home loan if it is not done correctly or talked over first with your mortgage lender. A simple task to discuss, which will create a much smoother closing on your home buying journey.