Everyone has a different way of saving money. Some use savings accounts, money markets, certificates of deposits, or retirement accounts. Some prefer to keep the funds at home.
When you’re applying for a mortgage, the lender will need to source all large deposits. If you can deposit the funds 60-90 days before applying for a mortgage, you will not have to explain where those funds came from. If you need to apply right now though, we can go over the deposit guidelines with you.
Give us a call at the office at (815) 324-9760 for more information.