Money Transfer before closing

[Anonymous]

FHA loan approved. Closing date set end of month. I have enough funds for closing cost and downpayment. My sibling needed some help from me and asked if I can transfer 1000$ to his bank account. Will transferring such an amount before closing cause any issues?

[JGGM]

I'd personally tell sibling it needs to wait until after closing. I doubt they'd find out, unless they ask for another bank statement. But if they do ask for a statement and see a random $1,000 withdrawal depending on how strong your file is, I would think it could spark some unnecessary questions. 

[Anonymous]

Whats your statement date for your bank?  Did you have to give an April statement?  Chances are they wont ask at this point for another statement but you never know.  Depending on the statement date (for May), it wouldnt show if its already cut.  If it hasnt, its gonna show on May.

I sure wouldnt be loaning out ANY money when I am about to buy a house!!!  I dont care who is asking for it.

[Anonymous]

Thanks JGGM and Junniebruner for the great advice!

[Anonymous]

If you feel comfortable doing so, you can pose that question to your loan officer.

I think it all depends on how large the typical deposits to the account are.

You may be also able to withdraw a smaller sum to assist your sibling.

[Anonymous]

Funtertainment:

I'm all for supporting family as my husand and I do it all the time. My advice is to hold off until you have the keys in hand. I've followed your posts and you've come a long way. Closing is literally right around the corner. If the situation isn't dire, please hold off. But if it is, maybe the rest of family or friends can help in the meantime.

Congratulations! Happy closing