Hello everyone. .. do underwriters check and (or) ask for all bank accounts or just the one we are going to use for the loan?
I will be using the va loan with navy federal credit union. Thanks
Don't know about Navy Federal, but my last two loans were with the same bank. One was for an investment property, while the other was a VA owner occupied. The lender wanted to see all bank and credit statements going back 3 months. They wanted to see the transfer of funds from the house we sold in the UK and they wanted to "see" each transfer on the "from" side and then to the "to" side. I had to do some screen shots for them. Also, the underwriters insisted that we close our oldest and largest credit card, and wanted to see all of the electronic documentation for that.
In regards to Navy Federal, I would love you to post back what you find.
All the best~
Unless there's something unique about a VA loan from Navy Federal, the underwriter will want a full financial disclosure. Good luck.
Lenders ask for all your bank accounts on your loan application. If you don't provide all of them, you may get away with it, but that's on you. However, if there are transactions/transfers between your accounts on the statements you provide, or large deposits aside from your income, then the underwriter will ask for statements from the other account(s) and/or sources of those deposits. Another way they can see if you have other accounts is if your paystub has a direct deposit into another account.