We are getting ready to apply for a mortgage and its been quite a few years since we have... The bulk of our liquid assets sits in our business accounts currently. We plan on taking a dispursement from our business to use for our down payment for the house that we are under contract for right now. Should we write ourselves a check now from the business before we apply? or should we leave the money in our business account until an underwriter/broker tells us to move it. Im in fear of moving the money and then having that money have to season in our account for some reason and delaying the process.
If your timeline allows you to have the money seasoned in an account where you can provide two months of statements reflecting funds already present that would be the easiest.
If you had to make a large disbursement within the two-month window, the lender would generally require a letter of explanation for the source of funds and would want to see two months of bank statements from the source account if it's not part of their "discovery" process. That wouldn't cause a delay as long as you're on top of providing that info.
These are profits from your 2021 tax year, is that correct? If so then I think you'd want to have them in your personal account no later than your business tax year deadline, which would be Mar 15 if you're filing as an S Corp.