Assets: Proving You’re Financially Ready
In mortgage lending, assets refer to the money you’ll use for your down payment, closing costs, and potentially reserves—extra funds left over after closing to show financial cushion.
What we look at (and why)
Your bank account balances
- Why it matters: Your balances can answer a lot of questions, like are you a saver or a spender? Do you have a sizable emergency fund? Do you frequently use credit?
Investment accounts (retirement, stocks, etc.)
- Why it matters: Even if they’re unrelated to your home purchase, they’re great evidence of your financial stability.
Gift funds from a relative (with proper documentation)
- Why it matters: Gift funds are a great way that friends and family can support you during the homebuying process, just make sure you have all the right documentation to show where the funds came from (no mattress money, please).
That funds are sourced and seasoned
- Why it matters: This means the funds are traceable and have been in your account for 60+ days. Sudden large deposits can raise concerns and lower your chances of getting approved for a mortgage.
The more assets you can show, the stronger your loan application will be. Even if your income and credit are average, healthy assets can improve your approval odds.
Not sure how much you need? Different loans have different requirements—some even offer down payment assistance.
What Our Customers Say
5
Lyndsey Z.
This firm did an amazing job with helping me buy my first ever home with my husband! April, Lacey, and David were so great! They were all very patient and understanding when I was unsure of the process and terms
5
Irina N M.
Oscar is an exceptional person who takes the time to build genuine relationships. He truly cares about your personal and family situation and is always willing to help. Not only does he get the job done, but he also provides
5
Somer R. H.
We might be biased but she's the best! Kind, hard-working, and extremely knowledgeable. Thank you for getting us through this crazy process!
5
Leah J.
As first time home buyers, Vicki is exactly what we needed! She was available to answer my many questions and never made me feel like they were silly or that I was a bother. Her knowledge of VA loans was
5
Brian Tonka Y.
Both Steve and Laina made this process smooth and painless
4.66
Brett Michael S.
David's team are experts in the field and made a first time home buyers feel at ease knowing the breakdown of everything and locating the best loan for me.
5
Phuc Hong N.
Fast easy process with Brandon
5
Kayla P.
Everyone was very attentive and responsive even when I asked questions after business hours!
5
Samantha B H.
Vicki and her team were wonderful, they made the home buying process go so smooth. highly recommend Vicki and her team
5
David Darnell F.
Mary and her team were on point. The communication was top notch and our journey for closing was very smooth.