Seasoning of Down Payment & Closing Costs

[UpInSmoke]

Hello fellow myFicoers. I hope you're well. I was wondering if anyone had any knowledge as to the seasoning of my down payment and closing costs. I'm in the market for a home and sold some a personal item to come up with the money for my down payment and closing costs. I deposited the cash into my account on October 5th. Technically, the money has been seasoned for 60 days. However, my new bank statement doesn't close until December 24th. As such, if I provide my last two bank statements, my statement will show the large deposit.

My question is this: Do I have to wait until my next bank statement cuts for the money to be considered seasoned (because the money will not show as a deposit on the last two bank statements at that point)? Or is the money considered seasoned at 60 days regardless of whether the loan officer/underwriter can see that deposit on the bank statements that I provide?

If the fact that it can be seen on the bank statement causes issue, I guess I'll just wait. If not, it's GO time! 

[JVille]

Simple Answer is YES

You need TWO Full Bank stmts that do not reflect any deposits that you can not provide documentation as to source of funds. FULL Statements to include every EVERY Page not a computer print out.

[UpInSmoke]

JVille,

I was afraid you were going to say that. Ha ha. Thank you for responding! I guess I have to wait for three more weeks.

[JVille]

Yep and they will inspect Every page with a fine tooth comb. They ever want the page even one that says “this page intentionally left blank” and review for YTD (year to date) Overdrafts/NSF and Beginning and Ending Balance. Anything that they can question. Auto pays everything. Make sure the stmt is Spotless and leads to no questions.
Good luck!