Finance
In Montana, a 'seasoned funds' requirement for a mortgage down payment means the buyer must show:
AThe down payment funds are from a non-family source only
BThat the down payment funds have been in the buyer's account for a specified period (typically 60 days), demonstrating they are the buyer's own funds and not a loan✓ Correct
CThe funds are in a savings account earning interest
DThe funds are in a checking account only
Explanation
Lenders often require that down payment funds have been 'seasoned' (in the buyer's account for 60 days or more) to verify they are the buyer's own funds and were not borrowed recently, which would affect the DTI calculation.
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