Posted on: 20th Apr, 2011 05:54 am
How to get a verification of Deposit?
Hi mriebel,
Welcome to Mortgage fit,
Whenever you apply for mortgage, lender ask you to put some % of amount as a down payment.But how do the lender come to know that you have put enough down-payment.So you (borrower) authorizes lender to check your creditworthiness.
Now what you need to do is put down the requisite (as agreed in the loan agreement) amount of down payment into your bank account from where you will be issuing the check to the seller.
Next step is you need to feel the form named 'form 1006'.You can get it from your bank's website/branch.Feel it out, sign it and then send it to the lender.Later on lender hand it over to the bank for the request of necessary information related to deposited funds.
For example, below mentioned link is the 1006 authorization form for fannie mae.every bank has its own form to be downloaded from their website.or available in hard copies at their branch.
https://www.efanniemae.com/sf/formsdocs/forms/1006.jsp
Feel free to ask any further query if you have....
DIPA
Welcome to Mortgage fit,
Whenever you apply for mortgage, lender ask you to put some % of amount as a down payment.But how do the lender come to know that you have put enough down-payment.So you (borrower) authorizes lender to check your creditworthiness.
Now what you need to do is put down the requisite (as agreed in the loan agreement) amount of down payment into your bank account from where you will be issuing the check to the seller.
Next step is you need to feel the form named 'form 1006'.You can get it from your bank's website/branch.Feel it out, sign it and then send it to the lender.Later on lender hand it over to the bank for the request of necessary information related to deposited funds.
For example, below mentioned link is the 1006 authorization form for fannie mae.every bank has its own form to be downloaded from their website.or available in hard copies at their branch.
https://www.efanniemae.com/sf/formsdocs/forms/1006.jsp
Feel free to ask any further query if you have....
DIPA