Posted by Ed Garcia on January 25, 2001 at 14:41:59:
I’m sure you’re aware that most lenders require seasoning. Because your purchase was within 30 days, chances are the lender would ask to see your purchase agreement, and request for you to verify down payment according to the terms of the purchase agreement. The may even ask for bank statement verifying where the down payment came form and for how long you’ve had the down. If you say your parents or a member of your family lent you the money, they may request verification from them as well. In most cases after 12 months, they won’t ask any questions. Nice try Mike, but lenders as a rule, are one step a head of you. Remember there can be an exception to the rules, I’m just telling you what the vast majority of lenders would more than likely do.