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Hello all ...
I am preparing myself so that I can purchase a house in the second half of this year. I received a student loan earlier this year and used the money to pay my fees and other school related expenses. However, I do have some remaining funds that are in my savings account ... approx $2500. Should I worry about these funds?
Thanks.
Hopefully you already got your answer since this was posted a few weeks back, but for anyone else that finds this they usually only ask for your last 2 to 3 statements. It sounds like you are looking to buy later this year so it's doubtful they'll ask about it. Btw, I don't think there is anything wrong with saying exactly what you said below if they did ask where the money came from.
hmmm... sorry you got missed.
the loan ap asks if any of the funds are borrowed. borrowed funds are not allowed.
if you dont need that money.... it can just be excluded from the ap
Oops good point, Dallas, thank you for the info! For somereason I was thinking about borrowed funds being from people as apposed to having gotten a loan in the past.