Need a proof of funds letter for your deal?
Source Realty Capital understands that investors need to show the wherewithal to close a deal and be able to show proof of funds (POF). Source Realty Capital will issue a proof of funds letter for repeat borrowers, as well as qualified real estate investors that are serious about closing on a deal and using Source Realty Capital as their financing partner. We typically process these requests the same day they’re made, as we understand that proof of funds is almost always required to make and offer on a property.
What is a proof of funds letter?
The proof of funds letter is often used by borrowers that need to show ability to finance a deal. Most proof of funds letters are required to be submitted with offers. Hard money lenders like Source Realty Capital issue these proof of funds, whereas conventional lenders may issue a pre-approval lender. Basically, the proof of funds letter is from one Source Realty Capital’s Loan Officers that informs the seller of the buyer’s financial wherewithal to fund the purchase.
How to request proof of funds letter:
To request a proof of funds, please fill out the form on this page or email a request to firstname.lastname@example.org. Please put “Proof Of Funds” in the subject line of the email. In order for our team to process the request, we need the following information:
– The complete property address
– Purchasing entity name
– Purchase price (or amount you’d like stated on the proof of funds)
If you’re not a repeat customer of Source Realty Capital, there is a one-time $250 fee required for proof of funds. However, this is a one-time fee, and once this fee is paid, you are entitled to unlimited proof of funds requests. We provide all of our repeat borrowers with monthly proof of funds letters.
Once a request is made, one of our loan processors will take a payment through a secure portal and we’ll typically be able to complete your proof of funds request within a few hours of receipt of payment.
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