Private Lending & Conventional Mortgage Advice
Market News & Data
General Info
Real Estate Strategies
Short-Term & Vacation Rental Discussions
presented by
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Tax, SDIRAs & Cost Segregation
presented by
1031 Exchanges
presented by
Real Estate Classifieds
Reviews & Feedback
Updated almost 7 years ago,
Money pass through bank account and effect to refinancing
I have a bank account, called Bank A, that, for a specific reason, needs to have multiple money pass through. By that I mean I constantly need to move money from another account to this Bank A, then immediately wire the same amount from this Bank A account to another trading account.
Now if I refinance my home, or buy another one, I understand that the lender would check every bank account and ask for an explanation of any nonregular large deposit. Given that I would have multiple large deposits, but at the same time I wire the amount received immediately to another account, do I have to explain this to the lender?