Verification of Assets (VOA)
Verification of Assets is the process by which a lender confirms the borrower's bank accounts, investment holdings, and other financial assets to ensure sufficient funds are available for the down payment, closing costs, and required reserves.
VOA can be completed through bank statements provided by the borrower or through an electronic verification service that pulls account data directly from the financial institution. Electronic verification is becoming increasingly common and can speed up the underwriting process.
A VOA is not the same as proof of funds. Proof of funds is a snapshot showing you have enough cash for the transaction. VOA is a deeper verification that confirms the accounts exist, the balances are accurate, and the funds are properly sourced. If you're using gift funds, those will need to be documented separately.
Why This Matters: Asset verification is a core part of underwriting. Having your accounts organized and ready — and being prepared to explain large or unusual deposits — helps avoid delays and keeps your loan moving toward closing. See our guide on how to get pre-approved for a full overview of what lenders check.
Common question
What does verification of assets include?
Lenders verify bank accounts, investment accounts, retirement accounts, and other assets to confirm you have enough funds for your down payment, closing costs, and any required reserves.
Why does my lender need to see my bank statements?
Bank statements verify that your funds are real, accessible, and properly sourced. Lenders also look for large deposits that may need explanation to confirm the money is yours and not an undisclosed loan.
Related Topics
Related Mortgage Terms
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