bank statements seasoned at least 2 months

This is an investor specific question. Most of our investors will allow the transfer of cash from a closely held Corporation, Partnership or LLC, but some investors will not. Closely held means you own all or almost all of the company. The transaction needs to be clearly documented and the Company will be required to provide written authorization for the transfer. ~ Bert Carpenter, The LoansA2z team of NOVA Home Loans ~ NMLS 40586 ~ Licensed in California and Arizona ~ www.LoansA2z.com 888-889-9950

Inclusively, the lender will ask that a 3rd party, Generally the CPA, write a Letter stating that using the funds will not adversely affect the business.

To answer your question directly, you can use business funds for the down payment of your residence. However, you will need a letter from your CPA that clearly states that it will not inpact normal business operations.

Self employed borrowers are usually required to have 2 monthly statements.. if there is a large deposit ($500 or more), then the lender will want to see where it came from.. However in your scenario, your self employed.. And generally these deposits are normal. So transferring a large amount of funds will not be a problem once explained.. However as others stated.. You will need a letter from your CPA stating that pulling out $40K from your business will not adversely affect the day to day operations of the business..... I'm a Broker here in Scottsdale AZ and I only lend in Arizona. If you or someone you know is looking for financing options, feel free to contact me or pass along my information. 480-287-5714 WilliamAcres.com

Based on the limited information that should not pose a problem as long as you provide a paper trail of the transferred funds. As long as you are 100% owner of the company or have a legal right to the funds if it is a partnership you should be ok. ENG Lending, A Division of Bank of England, always puts your best interest first. We would appreciate the opportunity to serve you. Please visit us at www.cincinnatimortgagerate.net. You will soon find that we are so much more than a Mortgage Banker; we are a company that is dedicated to empowering our clients and referral partners. Don't forget to visit our Facebook Fanpage at http://www.facebook.com/pages/ENG-Lending-Cincinnati/171183536269710?sk=wall Or Call Anytime 513-403-6260

The lender will ask your CPA to write a letter indicating that the transfer the fund will not adversely affect your business.iradj EshaghianGreenBox Loans, Inc.ije@greenboxloans.comije@StratCommercial.com310-722-1817

Generally speaking, most lenders will allow transfer of business funds for use in your personal purchase. The lender will require documentation from a CPA that the use of business funds will not have an effect on the business and that you are the owner of the company and the transfer is allowed.