We defined and addressed “Seasoned Funds” in Monday’s comments, and our trainer astutely pointed out that we missed a couple of significant sources for “Seasoned Funds.” This is especially important during tax season. This is also important b/c some loans (Investment property loans for example) allow for no gift money.
Below is a list of Seasoned Funds sources.
1. Income Tax Refunds
2. Security Deposit Refunds (to former renters)
3. Earned salary income
4. Bonus income (provides for much flexibility)
5. Contract/Invoice income for self-employed borrowers
6. Home Equity Line of Credit funds
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