Mortgage Navigator • Conventional • Assets & Reserves
Bank accounts & deposits
Having enough money is only part of the test. The lender also needs to know the funds are eligible and belong to the borrower.
Depository accounts
Checking, savings, money-market and CD funds can generally be used for down payment, closing costs and reserves when properly verified.
Unverified funds are not usable
Fannie requires lenders to investigate indications of borrowed funds and to evaluate deposits that create source-of-funds concerns under the applicable asset-verification method.
Practical lesson: moving money between accounts immediately before underwriting can create documentation work even when every dollar is legitimate.
Official guide baseline
Fannie Mae Selling Guide · Freddie Mac Seller/Servicer Guide
Asset eligibility depends on ownership, accessibility, documentation and how the funds are being used.