What Counts as an Asset on a Mortgage Application?

Transcript

Lightly edited from the video for readability.

Hi. I'm Matt Demorest, owner of HomeSure Lending, and we're going to talk about assets. Assets. I want to make sure to enunciate that 1. Sometimes people aren't even really sure what the word asset means.

They list all sorts of stuff. You know, insurance or cars or things they own. That's not actually it at all. Assets are really any of the funds you have available for the purchase or refinance of a house. Your assets could include things like your bank accounts, checking and savings, IRAs, 4 0 1 k's, any of the money that you have available.

It can also include gift funds. If there are gift funds, make sure you go to homesure lending dot com slash f a q and check out the video specifically discussing the requirements of gift funds. It's extremely important to document everything correctly and make sure your asset accounts are shown in a way that's going to help the loan get closed. So any questions on anything regarding assets, make sure you reach out to us directly so we can help answer those questions. You can always trust that our main goal and objective in the loan process is to help you purchase with confidence and refinance with ease.