I want to close on a house sometime in June 2013 if all goes well. I have money saved up in my bank accounts for really days and for misc. purchases. I wil receive l a lump sum salary at the end of May for working in a leadership role at a my school. This payment is additional to my monthly salary. I'm using the lump sum payment for the down payment of a home. My question is if I want to move in June should I apply for the loan in April or May until the funds are available at the end of May. I am seeking a conventional loan. When I purchased my first home with a FHA loan I had to have the earnest money in order to get approve and the rest at the closing time. I know so much has changed in the mortgage industry since I purchased my first home.
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