Proof of funds

[hpswamy]

So I have obtained all documents required to submit my application except the proof of funds portion. I see that these are the requirements for proof of funds.

• list of all your bank (checking and savings) and investment accounts, the account numbers, dates each account was opened and the balance of each account over the past six months,
• list all outstanding debts, such as credit cards and loans,
• be printed on the letterhead of the financial institution, and include your name and the contact information of the financial institution (address, telephone number and e-mail address).

I fortunately have much more than enough in savings to qualify but the problem is my average bank account balance is low (~$1000) since the money was mostly in liquid investments. Thus, I've opened a 12 month certificate of deposit and obtained a document from Bank of America as proof. I also have monthly statements from my Fidelity 401k account which have much more than the minimum required.

1. Do I still have to provide monthly statements of my checking account since it has a low balance anyway?
2. My certificate of deposit is only ~2 months old. Will this be held against me?
3. Does anyone know if a 401k is an acceptable source of funds?

 

[hpswamy]

Anyone?

 

[Seifenblubblase]

hey,

1.) I think so, because it states you need to list all accounts. So basically you have more than one, even it has less then 1k. So you need to provide a letter from the bank where it is too.
2.) I don't know about the certificate conditions, but is it fully available? Only money that can be transfered immediately counts. If it is not directly available, I think you need to explain that. Not sure if that even works then.
3.) Don't know what a 401k is :-/


hope this helps I am quite new into this too and just finished my application. So if a senior can verify this

 

[RelocateDream]

Did you get a letter regarding POF from Bank of America? I'm trying to get one from my local branch, and they are unable to give one on a colour letterhead. Were you able to get one? Also, I couldn't get one for credit card - is that necessary? Thanks!