What is required to verify the liquid assets of applicants for RD 1944-62?

To verify the liquid assets of applicants for RD 1944-62, written verification of deposit is crucial. This documentation serves as official proof of the applicant’s financial standing, providing clear information about the balances in their accounts. It helps the lender assess the applicant’s ability to cover costs related to home purchasing, such as down payments and closing costs.

The written verification of deposit is preferred because it offers a direct confirmation from financial institutions regarding the amounts held by the applicants, rather than relying on other potential indicators of financial health. While recent payslips, employment letters, and tax returns provide valuable information about income or employment stability, they do not specifically confirm the availability of liquid assets necessary for the loan process. Thus, they may not adequately satisfy the requirement for verifying liquid assets as set forth by RD 1944-62.