Proof of Funds in Real Estate: Everything You Need to Know
What Is a Proof of Funds Letter?
• It’s an official document that guarantees you have sufficient money to pay for the real estate transaction
Who Issues Proof of Funds?
• A proof of funds letter is issued by banks, credit unions, or any financial institution that holds your money
A Proof of Fund Letter Will Include:
Bank’s name and address
Bank statement
Balance of total funds in your account
Signature of an authorized bank employee
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Why Do You Need a Proof of Funds Letter?
It’s a document often required for the home-buying process. A seller will demand a proof of funds letter to proceed with the sale.
