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Documenting
Your Assets – Verifying Your Down Payment
Employers
Some companies
provide down payment assistance for their employees. They
may feel that homeowners are more stable and reliable employees,
or that providing down payment assistance fosters an environment
of higher morale and loyalty to the firm. Just make copies
of all the paperwork, including a copy of the check and the
receipt when you deposit the funds into your personal bank
account. It is important that these funds do not require
repayment.
Savings
Bonds
If you have Savings
Bonds, they are a financial asset, too. Since you hold
the actual bonds in your possession, the easiest and best
way to verify them for your mortgage lender is to make photocopies
of them. If you choose to cash them in for down payment
or closing costs, you should do this at your local bank. Be
sure to keep copies of the paperwork the bank provides because
that will establish the current value of the bonds and show
that you received their cash value.
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