How to Provide Asset Statements

What is required for proof of funds and why do we need this? 

We typically need to show funds have been seasoned for 60 days in an account to meet asset guidelines for a loan. 

What should a statement look like?

A statement must show your full name, account number (or partial acct #), a full statement history of transactions (nothing can be blacked out/redacted), and all pages of the statement.

What if my current statement is not ready yet? 

You will need to generate a transaction history from the first of the month through the current date. Some institutions allow you to generate this online. If you cannot get this online, you will need to call your institution to request them to email this or visit your institution for physical copies. The online transaction history will also need a web URL present at the bottom of the page. This can typically be generated by selecting “headers and footers” when printing.

If you obtain physical copies from your institution, these will need to be teller stamped and signed to verify this is a printout directly from your financial institution.

Large Deposits

If there is a large deposit within the provided statements other than payroll that is more than 50% of your gross monthly income, we must source/paper trail the deposit. Depending on what the deposit was from, different documentation may be needed. Please contact your loan officer for specific guidance on what will be required.