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Updated over 11 years ago on . Most recent reply

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Sarah Vanelli
  • Meriden, CT
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Realtor says HUD needs bank statement?

Sarah Vanelli
  • Meriden, CT
Posted

Trying to make my first HUD offer. I'm working with the listing agent of a property and am trying to make a cash offer of 30k. The agent is asking for a bank statement to show proof of funds. I don't want the agent to see my bank statement because 1) it has my information and 2) it will show quite a bit more than 30k. I heard that if you go to your bank, they can give you a letter saying you have enough funds. Is this acceptable for HUD? And what do I ask for when I walk into the bank? Ie... "Hello, I need an official proof of 30k worth of funds for HUD" will suffice?

Because the listing agent is like as informative and charming as a brick wall, I wanted to ask you guys on here first. Thank you everyone!

Most Popular Reply

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1,980
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Bryan L.
  • Residential Real Estate Agent
  • Cookeville, TN
948
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1,980
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Bryan L.
  • Residential Real Estate Agent
  • Cookeville, TN
Replied

Don't worry about the bank statement showing more than 30. It doesn't matter to HUD at all that you have more money. If you meet their minimum price, they will accept your offer. Also, take a black sharpie and mark out your account numbers if that will make you feel better. Really, we send in bank statements like this all the time as proof of funds.

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