Verification of Deposit
A verification of deposit confirms the money in your bank accounts. Lenders send it to your bank. It checks your balances directly.
What Verification of Deposit means
It backs up the assets on your application. Clean records prove you can close. It also shows any reserves you hold.
Florida example
A Florida buyer lists their savings. The bank confirms the balance. The file then moves ahead with proof of funds.
What it is
A verification of deposit confirms the balances in your bank accounts. Lenders send it to your bank to verify your funds.
It backs up the assets on your application.
Why it matters
Verified deposits prove you have the money to close and hold reserves. Clean records speed your approval.
We help you prepare your accounts in advance. Reach out and we will get your file ready.
Verify the details for your own situation against these government and agency sources: CFPB Owning a Home guide and HUD homebuyer resources.