III. Don't transfer funds before obtaining your home financing

Lenders will want to verify that you have seasoned assets in reserve and to cover your down payment and closing costs. Lenders want to know that you ve had the funds required for your investment into a home (down payment and closing costs) plus your required reserve in your possession for a given period of time (usually 60 to 90 days). If you can avoid transferring funds from one account to another 60 to 90 days before you begin the process through closing, you will lessen the amount of documentation required to verify your funds to close and reserves and decrease the time your loan file will spend in underwriting.