It is recommended that you do not change banks - leave
your money where it is until you speak with a loan officer
or mortgage broker.Lenders will probably ask that you
provide bank statements for the last 3 to 6 months on
any of your accounts, (checking, savings, money market
funds, etc..) If you have a habit of shifting monies
they may request a complete paper trail of all withdrawals
and deposits for those accounts as well as cancelled
checks, deposit receipts, and other information. This
can be quite inconvenient and perhaps difficult to produce
- not to mention time consuming! It is a requirement
on a majority of loans to completely document the source
of all funds. Shifting your monies around will only
complicate the whole process.
