What does a bank need from me regarding my investment account?

I am applying for a mortgage. I have an investment account. Does the bank care about how much I have in there? If so, what does the bank need to see regarding that account?

Related Items

3 Responses to “What does a bank need from me regarding my investment account?”

  1. Robert M said:

    your monthly brokerage statement will suffice.

  2. Frank - Wachovia Banker said:

    The bank is satisfying a “reserve” requirement. The lender wants to make sure that if you lost your job or other source of income, that you would be able to make your mortgage payments in the interim. Generally a brokerage statement will suffice. Just keep in mind that generally banks only count 50% of investment assets towards reserves because of market volatility.

    Cheers!

  3. Francis Courtwright said:

    Just want to say your article is as surprising. The clarity in your post is just excellent and i could assume you are an expert on this subject. Fine with your permission let me to grab your RSS feed to keep up to date with forthcoming post. Thanks a million and please continue the gratifying work.




Message:

[newtagclound int=0]

Subscribe

Recent Comments

Recent Posts

Archives