What counts as proof of funds in real estate Mortgage pre-approval is a commitment from a lender to provide a buyer with a home loan. A proof of funds letter is a completely separate document that shows where you’re keeping the cash you need to bring to the closing table. Keep in mind that a pre-approval letter is by no means proof of funds. pre-approval letter: What’s the difference? Home buyers who don’t need a mortgage because they’re buying the house in all cash aren’t off the hook, either! They will also need to provide a proof of funds for a cash offer-for a much larger amount, of course. ![]() That’s why you provide them with a proof of funds letter, as well as your pre-approval letter from your lenders confirming that they’re willing to loan you the rest of the money you need. While lenders will delve deep into your finances to ensure you have the necessary cash on hand to close the deal, home sellers will also want to see that you have these funds set aside.
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