Document where your Down Payment comes from

Banks need to understand where your Down Payment comes from, and they usually ask for documents rather than explanations. Savings are shown through account statements, proceeds from selling another property through the sale documents, and help from family often through a signed gift letter with the transfer record. A large deposit with no clear origin, made shortly before you apply, can slow the review while the bank asks questions. Make a simple list of every source that will make up your Down Payment and attach the matching proof to each line: statements, contracts, letters. If money will move between your own accounts, do it early and keep the confirmations. A tidy paper trail lets the bank follow each amount without delay. Prepared by Masterpiece Property.