Familiarize yourself with the four types of liquid assets. Plus, understand three of the largest expenditures a borrower makes when buying a home. 

Learn what an earnest money deposit is and how it must be documented in a mortgage file. Complete the corresponding workbook section.

There is no video for this lesson. Complete the corresponding section of the workbook and continue.

 

Understand checking and savings documentation and the red flags you should look for within these documents. 

Learn how a Certificate of Deposit (CD) differs from other forms of assets, and the verification process for this type of asset. Complete the corresponding workbook section.

There is no video for this lesson. Complete the corresponding section of the workbook and continue.

 

Explore the details of liquid asset ownership and how to address issues that may arise.

Learn the specific guidelines that govern the acceptance of gift funds from family as a source of liquid assets. Complete the corresponding workbook section.

There is no video for this lesson. Complete the corresponding section of the workbook and continue.

 

Review the use of stocks, bonds and other securities as assets. 

Understand when borrowers may use business accounts for down payments, closing costs and reserves. Complete the corresponding workbook section. 

There is no video for this lesson. Complete the corresponding section of the workbook and continue.

 

Learn which sources of funds are not allowed in a mortgage transaction.