Down payment account seasoning

[Jia Liu]

Hey everyone,

I have my down payment currently sitting in my savings account with Bank X for more than a year now. When I take out a loan, I plan to pay with my checking account with Bank Y. The question is do I need to transfer my money from my savings account in Bank X to my checking account in Bank Y to sit for two months there to be considered seasoned?

Thanks!

[Mike McCarthy]

@Jia Liu nope. Once you prove you have the $$ for the down payment and it goes through underwriting, the bank won’t care where the actual check/wire comes from. You could wire it from a completely different account and no one would care. (Legal sources of course) :)