You may be able to find a lender who would issue a proof of funds letter. The letter may be difficult to acquire depending on your situation since the entity issuing the letter basically says they can prove that you have funds in their institution readily available for the purchase of real estate. If you don't actually have any funds, you may be able to get an individual who does have the money to assist you with getting the proof of funds letter. The purpose of the letter is to show the seller that you have access to funds to purchase their property. The proof of funds letter is to the cash buyer, what the pre-approval letter from the mortgage company is to the buyer who is using credit to purchase.
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If you would like the chance to work with me or one of my fellow real estate investor coaches and our advanced training programs, give us a call anytime to see if Dean's Real Estate Success Academy and our customized curriculum is a fit for you. Call us at 1-877-219-1474 ext. 125
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You may be able to find a lender who would issue a proof of funds letter. The letter may be difficult to acquire depending on your situation since the entity issuing the letter basically says they can prove that you have funds in their institution readily available for the purchase of real estate. If you don't actually have any funds, you may be able to get an individual who does have the money to assist you with getting the proof of funds letter. The purpose of the letter is to show the seller that you have access to funds to purchase their property. The proof of funds letter is to the cash buyer, what the pre-approval letter from the mortgage company is to the buyer who is using credit to purchase.
If you would like the chance to work with me or one of my fellow real estate investor coaches and our advanced training programs, give us a call anytime to see if Dean's Real Estate Success Academy and our customized curriculum is a fit for you. Call us at 1-877-219-1474 ext. 125
Can anyone help provide information on a company/lender that provide a proof of funds letter for non transactional (back to back closing)?
Do hard money lenders provide such letters?