Selling Guide

Published August 29, 2017

B3-4.2-05: Verification of Assets for Non-U.S. Citizen Borrowers (04/01/2009)

This topic contains information on the verification of assets for non-U.S. citizen borrowers.

Verification of Assets for Non-U.S. Citizen Borrowers

The lender must document all sources of funds used for down payments and closing costs.

Funds that a non-U.S. citizen borrower recently deposited in a U.S. depository institution are an acceptable source of funds provided all of the following requirements are met:

  • There is documented evidence of funds transfer from the country from which the borrower immigrated,

  • It can be established that the funds belonged to the borrower before the date of the transfer, and

  • The sources of all funds used for closing can be verified just as they would for a borrower who is a U.S. citizen.