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America's Wholesale Mortgage Broker TM
Different home loans have different requirements for verifying your assets to close. Generally, you'll need to verify that you have enough liquid assets for your down-payment, closing costs, and three to six months of reserve assets. Some loans do not require you to verify any assets to close. In most cases, you need to verify slightly more assets than are required to close because most lenders expect that you should have 3-6 months of reserve assets in case of an emergency. If your loan requires us to verify your assets to close, you can determine the amount that needs to be verified by adding the below amounts together: FUNDS NEEDED TO CLOSE ( from your Good Faith Estimate ) + REQUIRED RESERVE ASSETS ( 3-6 Months PITI ) $ AMOUNT TO VERIFY Your reserve assets are calculated by multiplying your combined monthly Principle, Interest Taxes and Insurance by 3 to 6, depending on the specific requirement of the lender selected to fund your loan. Essentially, 3-6 regular monthly payments, presuming that your taxes and insurance are part of your payment.
There are a variety of methods that you can use to verify assets to close. If you have any issues regarding this verification process, we will offer you alternative ways to fulfil the requirement. Below are some common ways to verify your assets to close. 1. Provide a three month average balance VOD from your bank account(s). 2. Provide your three most recent monthly bank and/or securities statements. 3. Provide your most recent quarterly securities account statement. 4. Document gifted funds and letter from person making the gift.
Other methods can be used, depending on the type and location of the assets  461 Cascade Way - Eastsound, WA 98245 Office Phone: (360) 376-5194 E-Mail: terrydonovan@sanjuanmortgage.com America's Wholesale Mortgage Broker TM 
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