@Anonymous wrote:
My VA loan has gone to underwriting. I was very upfront with my realtor going into this purchase and told him that I had limited funds available for closing. The sellers have agreed to a 4% contribution towards closing costs. I paid off credit cards before applying and that took up some of my funds. I have paid a $1,000 earnest money deposit, home inspection $300 and appraisal $450 so far.
I will have the estimated amount needed to close before my loan closes on November 4. This money will come from what is left in my savings account and from money I'm saving out of paychecks between now and then.
Does the money have to be in same account? My paychecks are deposited automatically so rather than switiching money back and forth between checking and savings can I just leave it in the checking account and withdraw it the day before closing as a certified check?
How long before closing will they verify funds again? If I get paid a day or so before closing am I allowed to use that money towards closing?
I'm excited but all of this closing stuff is stressing me out.
the money doesnt have to be all in one account.
you will get a closing disclosure 3 days before you close. then you can do all of the transferring you want.
most title companies want funds wired now. so be ready for that
Retired Lender
