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Documenting Your Assets – Verifying Your Down Payment
Employers
Some companies provide
down payment assistance for their employees. They may feel that
homeowners are more stable and reliable employees, or that providing
down payment assistance fosters an environment of higher morale and
loyalty to the firm. Just make copies of all the paperwork, including
a copy of the check and the receipt when you deposit the funds into
your personal bank account. It is important that these funds do not
require repayment.
Savings Bonds
If you have Savings
Bonds, they are a financial asset, too. Since you hold the
actual bonds in your possession, the easiest and best way to verify
them for your mortgage lender is to make photocopies of them. If
you choose to cash them in for down payment or closing costs, you
should do this at your local bank. Be sure to keep copies of the
paperwork the bank provides because that will establish the current
value of the bonds and show that you received their cash value.
copyright 2006 by Terry
Light and RealEstate ABC
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