Mortgage Loans

[Monkeygirl531]

Does the funds have to be seasoned for 2 months even if the money is from your paycheck? I was told to not make any large deposits but what if all large deposits are paychecks. Can I apply as soin as I hit enough for funds required or do I have to wait additional 2 months?

[Catacam]

They don't need to be seasoned, just verified.

[FICOisa4letterword]

I agree with the OP, my lender only requires gift funds to be seasoned.

[StartingOver10]

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Monkeygirl531 wrote:
Does the funds have to be seasoned for 2 months even if the money is from your paycheck? I was told to not make any large deposits but what if all large deposits are paychecks. Can I apply as soon as I hit enough for funds required or do I have to wait additional 2 months?

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No. You have already sourced these funds because they come from your paycheck.

The lender means don't make any large deposits that don't come from your normal paycheck or from source they can verify.

[beb86]

Yeah as long as the are verified..... On my closing I was $100 short since I had $3000 of unverified funds