Asset Verification
The lender's process of confirming you actually have the funds you claim for your down payment and reserves.
In plain English
During underwriting, lenders verify your bank, retirement, and investment statements to confirm the source and amount of funds you're using — flagging any large, unexplained deposits for you to document.
Avoid moving large sums between accounts or accepting cash deposits right before applying — it's much easier to document funds that have sat untouched for a couple of months.
Where you'll run into it
Guides and tools on TheBuyingPath that cover asset verification in context.
Related terms
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