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Moving funds to savings account intended for down-payment

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Anonymous
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Moving funds to savings account intended for down-payment

I have an app called Qapital, which is linked to my bank account. It rounds all of my transaction to the nearest dollar then saves it. I currently have close to $4,500 of it and would like to transfer it to my bank account in order to put it towards my down-payment. I'm sure U/W will ask what it is, and want a letter of experience. But how do I explain this? Online savings account from another source? It's just like any other online savings bank account, however I would like it to be moved to my primary checkings. 

 

Please provide any input or advice. 

2 REPLIES 2
dragontears
Senior Contributor

Re: Moving funds to savings account intended for down-payment

Easiest thing would be to include 2 months of statements for this account when you provide the bank statements for your checking. That way no letter would be needed
Message 2 of 3
JVille
Valued Contributor

Re: Moving funds to savings account intended for down-payment

They will REQUIRE two month statements from the other acct and want to actually see the Electronic Transfer documented.
Message 3 of 3
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