Please find the details of how I need to meet the down payment verifications to help us get to the financing goal line with as few hiccups as possible. 

The Rules for Down Payment

NOTE: I use 2% because closing costs are expensive. The lender requirement is only 1.5%.

Down payment is one of the trickiest parts of my job, and I must follow precise rules. Please know these are not my rules but Federal Banking Rules. I'm here if you have any questions. Please see below. 

First, please do not move money from one account to another until I have completed my part of the process. 

I know it may not make sense, but under the AML Anti-money Laundering rules, we need to show a 90-day history of all accounts being used for the down payment and the history for any non-labelled deposits over $2000.00. 

You may provide screenshots of your bank account(s), not a cell phone screenshot.

Please ensure that your name and the account number are visible. When providing bank screenshots, you may need two screenshots. One is to show the account(s), and the other is to confirm your name and accounts for account ownership.

Confirmation of the down payment should equal the down-payment amount and 2% of the purchase price to cover closing costs.

For Example, the Purchase price is $500,000.00. I am required to show the lender a down payment of $25,000 (5%) + $10,000.00 (2% for closing costs) = $35,000.00. 

Everyone must show the ability to pay the down payment and closing costs as proof of available funds at the lawyer's office. 

If you are a first-time buyer, you will still be required to show the ability to pay the 2% closing costs; however, you will receive your first-time homebuyer benefits at the lawyer's office.

Where is your down payment coming from?