Why would my verified assets that are used to determine my down payment be lower than expected?

We must verify that you have control over the assets you are planning to use for your down payment. There are some cases when verified assets might be lower than you expect. Here are a few examples:

  1. If you have large deposits in your bank account from an ineligible source (e.g. cash deposit, undocumented source, unsecured loan such as a credit card advance) we will not be able to give you credit for those funds.
  2. We are typically only able to use assets from investment and retirement accounts if they are liquidated prior to closing the loan.
  3. We are only able to use a percentage of any pending property sale values, and not the full amount.
  4. We only consider assets from business accounts on a case by case basis.

If you want additional certainty as to the purchase price you qualify for, we recommend getting a verified pre-approval letter.