Multiple Accts/Statements

[redE2move]

If you have multiple bank accounts will the lender request statements from all of them?  If not, which checking account would they most likely require for approval?

[JGGM]

When I applied for a mortgage (just two weeks ago) I was told to include two months of bank statements for all accounts. And, since I have money automatically moving from my primary checking at Wells Fargo to other accounts at other institutions, had I just provided my primary checking, the underwriter would have easily realized I had accounts elsewhere. 

[redE2move]

I was under the impression that they would need a years worth of statements.  Only 2 months of bank statements works just find.  I'm sure all mortgage lenders vary but do you mind me asking who you applied with?  I just joined NFCU in August with the intent to apply there.  

[Anonymous]

I closed on my home with NFCU over the summer.  They only required two months worth of bank statements.  Most banks only require the two months worth of statements.

[JGGM]

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@redE2move wrote:

I was under the impression that they would need a years worth of statements.  Only 2 months of bank statements works just find.  I'm sure all mortgage lenders vary but do you mind me asking who you applied with?  I just joined NFCU in August with the intent to apply there.  

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That's who applied with as well. Only two months was required. No special conditions on the approval.....but I am W2 employee with the same employer for almost 4 years, same industry about 8 years. Only reason I could see them asking for a year is if you were self employed. 

[Anonymous]

Your original question was will the lender want to see all of your accounts. That answer is "it depends". Generally, lenders only want to see two months worth of bank statements. If it takes you longer to find a home, or close on the home, they will also ask for updated versions of your documents. 

My husband and I applied jointly for a mortgage, but we only used my account as a reference. His pay is deposited into my account(I bank with NFCU too). Our lender asked to see all of my account information. However, when we signed our contract, the beginning deposit amounts were paid from his account. So we had to show the lender statements for those months to show where that money came from. 

In my experience, if you move money between external accounts, they will ask to see statements for those accounts