Withdrawing $$ from bank acct prior to settlement

[MsTucker09]

Hello everyone I close on my house on the 28th and we had set up a checking acct just for the new home (DP,reserves,etc.) Well we will have a few thousand left after we pay our DP and we wanted to purchase window coverings for the entire home before the sale ends on tues but new statement period doesn't begin til wed. We wanted to know will the underwriter want a LOE because we want to withdraw approx $2k but my mom said we should just transfer the funds from savings to checking and the check would clear after statement period ends. Any input is appreciated. Thanks

[Anonymous]

The lender may want to verify the amount of $$ in accounts that are listed on your application is correct.  I don't recommend withdrawing any funds before a statement closes.  You still have over 20 days to close, you never know.  Do you have a credit card that closes on the end of the month?  That way, you don't have to take money from your bank account.

I'm in a similar situation, we are to close on the 15th, trying to make it the 17th just to make sure we will have keys in hand, but we want to buy a couple items while on holiday sale.  I did order the fridge, but the statement doesn't report until the end of the month.

At this point, you've got to keep whatever the bank thinks you have in your account.  Banks are super sensitive these days, saving a few bucks on window coverings isn't worth it.  There will be more sales.

Again, use a card that reports after closing, see if someone will give the funds to you, or just wait.  Don't jeopardize your loan. 

[MsTucker09]

Thanks lessons_learned

I have a solution checking the web again the sale isnt over til the 9th and statement closes the 8th so I will just buy them on the 9th so i will save $$.

[Anonymous]

Don't take the money out of the account to do it! The lender may do a verification of deposit shortly before your closing date. That has nothing to do with your statement or when it processes for the month. A credit card should be fine if it's on the next month's statement, but the lender won't rely on your most recent bank statement and may very well verify the balance within the next couple weeks.