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When do I need proof of funds?

New Contributor

When do I need proof of funds?

We have our downpayment money...but we are about $600 short for closing costs. We are submitting our offer today on the house and hoping to close at the end of June. I was wondering how long until the bank wants to see our proof of funds for the closing costs? Just want to be prepared.
1 REPLY
Frequent Contributor

Re: When do I need proof of funds?

My MB stated that all moneys required at closing has to season in the bank for one month.  With that being said if you arent closing until June make sure the money is saved in the bank for April  then give Lender Updated statements to that affect.

Fico September 2012; TU 681, EX 674, EQ 652
Fako October 2012: TU 706, EX 641,