When you make an offer, sellers will require you to submit proof of funds. If you’re buying a house with a mortgage, it shows them that you have the cash available for your down payment and closing costs. If you’re paying all cash, your proof of funds shows you actually have the money.

The following documents qualify as proof of funds:

  • Original or online bank statements with bank letterhead
  • Copy of a money market account balance with the bank’s logo or letterhead
  • Certified financial statements, such as an income or cash flow statement that’s been signed off on by an accountant
  • An open equity line of credit
Category: Real Estate Terms