Lenders require it to verify you can cover closing costs.
Be prepared to explain the "trail" of the money to comply with Anti-Money Laundering (AML) laws. PROOF OF FUNDS APARTMENT LOANS
In commercial real estate, a is a document that verifies a borrower has enough liquid capital to cover the costs of an apartment loan. It assures lenders and sellers that you are a serious buyer with the "skin in the game" required to close the deal. 🏦 Purpose of a POF Credibility: Shows sellers you have the down payment ready. Lenders require it to verify you can cover closing costs