How long do funds need to be in my account to qualify?
Answered by Onias Derilus, Mortgage Capital · NMLS# 1859012 · Florida licensed mortgage broker
Money that's been in your account for at least 60 days is considered 'seasoned' and needs no explanation. Larger recent deposits must be sourced — you'll show where they came from.
Payroll and normal deposits are fine. A big one-time deposit (a gift, asset sale, or bonus) needs documentation. We'll tell you which deposits to paper before underwriting asks.
The seasoning rule
Lenders like funds to be seasoned, meaning they have sat in your account for at least 60 days. Two months of statements showing a steady balance draw the fewest questions.
Seasoned money needs no explanation. A large deposit that lands right before you apply, on the other hand, will need a paper trail showing where it came from.
Handling recent deposits
Got a recent large deposit? Keep the proof. A gift needs a gift letter, a bonus needs a pay stub, and a sale needs a bill of sale. We help you document each one.
The simplest path is to move your funds in early and let them season. Reach out and we will review your accounts before you apply so there are no delays.