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What is a verification of deposit?

April 26, 2017deposit verification

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What is a verification of deposit?

1 Answer

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Posted

A verification of deposit is a written confirmation of assets. If there are assets declared on your loan application and no account statements were provided, a verification of deposit will be needed to show proof of those assets as stated. Please be aware that your bank may charge for this service, so it may be more cost effective for you to provide copies of statements for any assets listed on your application.