Finance
In Alaska, lenders typically require 'seasoned funds' for a down payment, meaning:
AThe funds must be from a specific season of the year
BThe funds must have been in the borrower's accounts for a minimum period (usually 60-90 days), not recently transferred✓ Correct
CThe funds must come only from savings, not investments
DThe funds must equal at least 6 months of mortgage payments
Explanation
Lenders require seasoned funds to ensure down payment money is the borrower's own and hasn't been borrowed recently, which would affect the borrower's true financial position. Funds that appear in accounts within the prior 60-90 days may require sourcing and documentation.
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