Commandment #9 (The 10 Commandments of Real Estate)

August 9, 2022



Commandment #9 Thou shall not change bank accounts.

Again, very important, sort of related to Commandment #8.

The one thing that your lender looks for is consistency. If you’ve got a brand new bank account or you’ve changed bank accounts, they’re going to question where the money source is coming from.

Where is your down payment coming from?
Is it borrowed?
Is it laundered money?

You know, something along those lines. So do not change bank accounts. They’ll think you’re up to something and don’t do it. Do you want to change bank accounts?
Do it after the deal, don’t do it before that is commandment number nine.