One of the underwriters main jobs is to make sure that the money you put down when you purchase a home is your money – and not someone elses.
This is very difficult to do if you deal only in cash.
So, if you or someone you know opperates in “cash only”, and you are wanting to purchase a house – open a checking account about 60 days before you apply for a mortgage.
Make sure you put your paychecks in the checking account. This way we know it’s your money!
Thanks for reading, and have a great day!
Brett
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