FLU I don’t think they care where the money comes from. I have no idea what the underwriting groups use as guidelines to govern the decisions they make, and thus care as to where the money came from. If the money is gifted it usually is no problem at all. A simple gift letter generally suffices and no seasoning is needed at all. However if there are larger sums involved and for some reason the money was not gifted, coming up with it at close of escrow out of the blue is problematic. Usually a 30-60 day seasoning is sufficient but again, different lenders, different guidelines and no gaurantee that 6 months from now those will be static.
I always try to err on the side of caution. To think that todays guidelines will be used by tomorrows underwriter is foolish. Another think that Sheldon (aka HLS) ALWAYS says is that guidelines are quite fluid and seem to change for more rigorous standards. So I would be remiss to imply to anyone that it is no problem to simply come up with the money at closing. Every lender has different criteria. Make no mistake, if your funds are dispersed in stocks, bonds, and various other assets, as long as you disclose them in the loan application, then when closing time comes and you have to liquidate the assets, then move the money to the account you end up wiring from, that is not a problem. You used assets you had already disclosed and the underwriter could account for them.
