Should You Move Money Around During The Mortgage Process

Dated: 01/08/2020

Views: 52

Image title

So let's say you've got a few different accounts.

You've got your main household checking account.

You've got your personal checking account.

Then there's your savings account.

And don't forget your money market account.

When you're applying for a mortgage, the bank is going to want to see your bank accounts. They might be OK with just the household checking account though. So, you go about your business and live your life.

But, you want to buy furniture for the new house so you transfer $5,000 from your money market account to the household checking account.


The bank is going to see that transfer and want to know immediately what it's from. They're probably going to need to see the money market statement. And on and on and on... it's like they suspect us all of using drug money to buy houses 🤦

So, if you're in process of getting a mortgage, maybe check with your lender before moving the money around.

Blog author image

Heather Wright

In the competitive Des Moines market, Heather Wright combines client-focused service, innovative marketing techniques, and a decade of experience to make sure that your buying or selling experience is....

Latest Blog Posts

Location Location

When you can work from anywhere, why not work from West Des Moines, Waukee or Urbandale? Dallas County, Iowa was #10 on the Top 10 places remote workers can call home. You can

Read More


If you’re thinking about selling your house this year, have you been a little nervous about the market?I get it - it’s been a year!First, the economy tanked with COVID-19. But that didn’t

Read More

Updating Your Cabinets

An easy way to update your kitchen or bath without breaking your budget is to paint the cabinets. It's definitely worth your while

Read More

Is Now A Good Time To Sell

2020 has been a strange year for all of us! And the real estate market is certainly no exception. A common question we've been hearing - is now a good time to sell?

Read More