Hi My name is Philip Ganz I am a loan officer.
I made this video to help you get prepared when buying a home. What do an Engagement ring, a car, your old
baseball card collection, and art have in common? They are all assets that can be used
towards a down payment when purchasing your home. I am going to tell you things you need
to present to your lender, so that you can correctly use these assets towards the securing
the purchase of your new dream home. Number 1. Proof. You need to prove you have
ownership of the asset. Number 2. Value. The value of the asset, must
be certified by an independent and reputable source. Number 3. The transfer of ownership of the
asset or the sale of the asset. This must be documented by something such as a bill
of sale or a receipt of sale. Number 4. Proof of the receipt of the sale.
You must prove you received the money from the sale. You can prove this by providing
documents such as deposit slips, bank statements, or copies of the purchaser’s canceled check. I hope this video was helpful! If you want
to know more about this or other important information mortgage information I am here