Did I screw up by prematurely transferring down payment funds?
Posted this in another sub but thought i’d try here. I am planning on using funds in a money market for my down payment. I wasn’t sure how long the closing process would be, so I had those funds transferred to my main bank account pretty much after we made an offer, that way I could sleep better knowing I had access to them immediately and didn’t want to risk holding anything up…
When we first applied for pre approval, Mortgage broker sent me a flyer with a list of things NOT to do and one of those things was “transferring from accounts i.e checking to savings” and just other misc things to be aware of.
I didn’t consider this at all and figured the funds would need to be transferred anyways and didn’t want to risk not having them, knowing there was a 3-4 day transfer period…
This was done prior to signing loan agreement, but after getting approval and providing assets and financials etc.
Is this something I need to be worried about or am I freaking out over nothing?