Down payment seasoning/co-mingling

[Kris Mead]

Hello everyone!

In order to maximize our Fannie/Freddie loans, my wife and I take turns putting properties in our name.

My question involves saving for down payments.

Currently all of our accounts are joint, but we store all of our individual deposits in separate savings accounts. Basically, if it comes in her name it goes in an account with her name as primary (still a joint account) and vice versa.

Are we able to consolidate to one savings and still be able to pull the full amount for a down payment in only one of our names, or will there be a seasoning requirement?

[Wayne Brooks]

 Verify with your specific lender.....they Do need to see where it comes, if it hasn’t been in that account for 2 complete bank statement cycles.