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Updated over 10 years ago on . Most recent reply

User Stats

452
Posts
10
Votes
Michael Dunn
  • Olive Branch, MS
10
Votes |
452
Posts

Checking vs a Savings account

Michael Dunn
  • Olive Branch, MS
Posted

Do Lenders care , if the money that you hold, via " savings " in a account, is a Savings or a checking account?

I have both opened, but I am using my Savings account, as the account of which the majority of the money from my paycheck is going in, to show that I have enough money in my account, to cover rent, escrow, appraisal, earnest money, etc.. if needed

I was just curious if having the money being held in one account vs the other, makes any difference at all, to the Lender ?

Thanks everyone

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