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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 2000 by Terry Light and RealEstate ABC, modified 2002
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