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Mortgage Glossary

Verification of Assets

Mike Starr·Reviewed August 2026

Verification of assets is the process lenders use to confirm that a borrower has sufficient funds for the down payment, closing costs, and cash reserves. Borrowers typically provide two to three months of bank statements, investment account statements, and retirement account statements. Lenders look for "seasoned" funds — money that has been in the account for at least 60–90 days — to rule out undisclosed borrowing.