Proof of Funds Document

8 Replies

Does anyone know how to get a Proof of funds document? Every time I ask the lady at my lender she says ok and never comes through and now I've missed 3 deals ... any help or advice?

@Jaleen Anderson

The lender can give you a pre-approval for a credit. For proof of funds just copy your respective bank statement and black out all information you don't want to give out.

if they want proof of 32k and dont have that in my bank account still send them a copy of my bank statement? 

If you don't have the cash then you don't have proof of funds. You may be able to use a line of credit as proof.

Hi Jaleen,

1) If you have $32,000 in your bank account, you can go to your bank and ask for a letter that states "Jaleen has at least $32,000 in his account as of March 13, 2015."  I just did something similar two weeks ago, and I've done it repeatedly over the last few years.

2) Line Of Credit: You go to a bank and ask for a Line Of Credit loan.  It's kind of a like a credit card, but with a better interest rate.  If you have decent income, good credit, and low debt, you should be able to qualify for a LoC from one bank/credit union or another.  Once you qualify for the LoC, you can get a letter that says, "Jaleen has access to X amount of dollars from our bank, as of March 13, 2015."  The exact amount will depend on what you are approved for.

3) Mortgage Pre-Approval: Go to a bank/credit union and ask them to pre-approve you for a home mortgage.  You'll need a decent credit rating.  Based on your credit rating and your income, the bank will (or won't) pre-approve you for a loan to buy a property.  They'll say, you're approved to buy a property up to (just guessing here) $50,000."  You can then get a letter stating that and use that as Proof Of Funds.

Hope that helps.

Good luck,


Can a Mortgage Pre-Approval Letter really be considered as proof of funds?  That would solve my problem. 

@Rod Joseph what is the seller looking for? If they are open to financing then it will work.

If they want a Cash Only deal, then it will not.

This is for a property on  I am considering purchasing it for myself to live in. 

Create Lasting Wealth Through Real Estate

Join the millions of people achieving financial freedom through the power of real estate investing

Start here