Seasoning

[Keith Meyer]

I am trying to get a better understanding of how seasoning effects the buyer and seller in the Florida area. Is it required by only some lenders? Does it effect cash buyers?

[Joel Owens]

Hi Keith,

Depends on the type of loan and lender you are dealing with and their underwriting requirements.

Seasoning is often a "sourcing the money" search for an underwriter to find any undisclosed private loans that will affect the DTI ratios to pay the senior lender (first position).

They want to know how you got the money and any strings attached to it when they make a loan decision.