The lender must document all sources of funds used for down payments and closing costs.
Funds that a non-U.S. citizen borrower recently deposited in a U.S. depository institution are an acceptable source of funds provided all of the following requirements are met:
There is documented evidence of funds transfer from the country from which the borrower immigrated,
It can be established that the funds belonged to the borrower before the date of the transfer, and
The sources of all funds used for closing can be verified just as they would for a borrower who is a U.S. citizen.