In this fast moving real estate market you are competing with investors who bring all cash and the ability to close escrow quickly with few contingencies. What that means to you, my average home buyer, is that you must come equipped with these two important documents before you even look at homes.
Proof of funds is simply a bank statement that shows you have the cash to pay the down payment, appraisal fees, inspection fees and closing costs. It can be printed out from your online account, or copied from your monthly paper bank statement.
