US residents - proof of funds

[craig123]

Thanks @craig123. Other experts, what do you also suggest I should do for my queries:

1. I also have 2 credit cards from Chase with very little balance. The Chase letter doesn't mention anything about them. So, should I include credit card statements separately in my POF documents as well?
2. I have a home mortgage loan and a car lease paid from my checking account. Since I am including statements, they will show up as line items. Do I need to mention anything about these in my LOE?
3. I have other credit cards outside of Chase that have zero balances. Payments have been made to them from my checking account. Do I need to include their statements or mention anything about them in the LOE?

I added mine credit cards with open balance in debt section. I have a few cc with zero balance, I decided to not include them since I did not use them for a while and have been dormant.
I cannot suggest about a home mortgage and/or car loan since if you add that I am sure it will seems like you have a lot of debt and not cash. But that's how life goes for eg: you may get a loan for 100K for house but may never keep that much cash. So home mortgage which is spread across next 30 years do not serve the same purpose.

Sorry but hope someone else replies to this thread who have home mortgage with their experience.

 

[godavari]

I used Bank of america letter. No issues at all

Do you mean just the Bank of America letter on your name.. on B&W paper with account balance and avg balance and opening date.
If it works. I will go ahead with that.... Other than balance did you obtained bank statement also??

 

[godavari]

I had the same bank and provided the same letter along with just the first page of last 6 months online BoA statements and it was fine.

Other than BOA B&W letter and 6 months online statement did you provided any sort of explanation of bank contact details and other things on LOE

 

[grapehair]

Other than BOA B&W letter and 6 months online statement did you provided any sort of explanation of bank contact details and other things on LOE

I did explai 3 unusual large deposits on one of my checkings account as that was gifted money. I explained those in the LoE and provided the transaction along with the dates/amounts/numbers from BoA which is very easy to retrieve if you are familiar with their online banking.

 

[clguy]

Other than BOA B&W letter and 6 months online statement did you provided any sort of explanation of bank contact details and other things on LOE

Six months printed online statements from Bank of America was all I used.

 

[SJPLAMA]

I got a letter from wells fargo, but it does not list avergae over 6 months. I will attach bank statements from last 6 months along with the letter.

Hi,
Did Wells Fargo sign or stamp for you. They refused stating the print out they gave me its already official

 

[earlybird2019]

Could I just upload the BOA B&W letter with the stamp? would that be enough?

 

[zabrodov]

Could I just upload the BOA B&W letter with the stamp? would that be enough?

That’s what I did. It’s been two months since aor now. Hopefully, it is enough

 

[earlybird2019]

That’s what I did. It’s been two months since aor now. Hopefully, it is enough

Thanks, just to clarify, you mean excluding the online statements? I am not sure why folks seems to upload the statements too.

 

[zabrodov]

Thanks, just to clarify, you mean excluding the online statements? I am not sure why folks seems to upload the statements too.

I did not upload the online statements. The paper from BOA pretty much satisfies the requirements of CIC

 

[waverlypl]

Below is what I did.
I got the chase pre-approved letters for my checking and savings account from the bank. Chase refused to customize this letter as per CIC requirements or even sign and stamp the documents. Thus along with them I also asked for letters from each bank indicating my balance on credit cards. These were the letters provided by the banks.

I created a document, dividing it in liquid assets (bank account letters as proof for each account) followed by my debts (credit card letter as balance due) in case you might want to add documents about mortgage as well.
And showed that my liquid assets even after excluding debt are enough as per CIC requirements for me and mu spouse.

This was my approach. My application is still under process in case you are wondering.

This has been a while and I’m sorry if I bother you. Have you gotten your PR with this method of both declaring PoF and loan? I’m going to submit my document soon and I also have a home loan. So I’m just wondering at this point. Thank you.