Conforming guidelines demand that any funds used to satisfy down payment, closing cost and reserve requirements must come from the borrower's own resources. On a practical level, funds must be "seasoned" in the applicant's possession for at least two to three months. This typically entails two to three months of bank statements or other documentation demonstrating that funds have been in the applicant's possession. Note, however, that recent wages and salaries are often acceptable as sources for unseasoned funds. For more information, see the "Analyzing Assets" article in the "Loan Process" section.
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