Closing a bank account in the middle of a mortgage application.?

Answers:0   |   LastUpdateAt:2012-08-06 05:05:47  

Asked at 2012-08-06 05:05:47
My wife felt the need to consolidate bank accounts both in one yesterday, which is fine , except that we are in the midst of a mortgage application process . Just send checks to our patterns of yesterday , the evaluation began yesterday , is to close next Friday, so

How serious is this? We are first home buyers and get an FHA loan .
Answer1FadumoAnswered at 2012-08-06 05:53:47
Not the best thing to do at this point , but not a disaster. Sufficient to obtain complete copies of bank statement and closing statement in which those funds were deposited , along with a letter of explanation to the insurer of the lender so they can document the movement of funds and are comfortable there is no change significant net assets.
Answer2sheromeyaAnswered at 2012-08-06 06:02:47
ask your lender as soon as possible . Usually not want to change anything during the process.
Answer3kavonAnswered at 2012-08-06 08:27:47
Not a problem if you have the paper trail and since it is the same bank that will not even be an issue. You may not need to provide bank statements anyway. What the hell did you do this now? I hope your wife has decided to open several new credit cards. That could cause a delay or rejection if you are close to the proportions.
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