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Documenting
Your Assets – Verifying Your Down Payment
Stocks,
Bonds, Mutual Funds, etc.
Most of those who own stocks get a
monthly or quarterly statement from their brokerage. You will need to
supply statements for the most recent sixty or ninety days in order to
document these assets.
Though it is rare nowadays, some people
actually have stock certificates instead of having a brokerage
account. When this is the situation, make copies of the certificates
and provide those copies to your lender. You might also want to supply
tax records to indicate you have owned these stocks for some time.
If part of your down payment will come
from the sale of stocks and investments, you will need to keep all
documentation that applies to the sale. Keep a copy of the check
or wire used to deliver the funds to you, and a deposit receipt for
wherever you deposit the funds.
Provide these copies to
your lender.
copyright 2006 by Terry
Light and RealEstate ABC
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