← Back to glossary
Mortgage glossary
Asset Verification
This is how a lender confirms money in bank, investment, retirement, or other allowed accounts. The lender may use this information to review funds for the down payment, closing costs, and required reserves. The documents and time period needed vary.
In plain language
This term may appear in conversations, forms, or documents during the mortgage process. If something important changes in your situation, ask how it may affect your case before making a decision.
This explanation is general and educational. It is not personalized advice, a loan offer, or a promise of approval.