Apr 17 • General discussion
“I have a new bank account for my business – do I have to season my funds for 60 days?”
We’re working with an investor right now who asked this exact question.
His situation:
- He’s refinancing a property into a new LLC
- The bank account for that new LLC was just created
Most DSCR lenders want to see **2 months of bank statements** with funds in the account to verify liquidity.
Most DSCR lenders want 2 months of statements with funds sitting in the account to verify liquidity — so he was worried he'd have to wait 60 days before he could close.
The good news was he already had the funds.
They were just spread across other accounts.
Our lenders aren't going to reject someone because a brand-new LLC account doesn't have a long history.
They want to see where the money actually lives.
As long as he sends:
- Bank statements from the accounts that actually hold the funds
- Operating agreements for any accounts owned by an LLC
he’s in the clear.
If you're in a similar spot — new LLC, new account, working on a refi — before you panic about seasoning, get clear on:
1. Where does the money actually sit right now?
2. What entity owns those accounts?
Once you know that, pull the statements and operating agreements. You're probably closer to a clean approval than you think. 😁
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“I have a new bank account for my business – do I have to season my funds for 60 days?”
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