If you’re planning to apply for a mortgage, it’s essential to understand the role that assets play in the approval process. Lenders rely on this information to assess your financial stability and determine your eligibility for a mortgage. In this comprehensive guide, we’ll explore the types of assets you should include on your mortgage application, how to demonstrate proof of assets, and the importance of reporting accurate information. By leveraging your assets effectively, you can increase your chances of securing a favorable mortgage and achieve your dream of home ownership.

Why Reporting Assets Matters

When you’re applying for a mortgage, reporting your assets is vital for two primary reasons:

  1. Financial Stability Assessment: Lenders want to ensure that you have the financial stability to handle mortgage payments. By reporting your assets, you provide them with valuable insights into your ability to manage the financial responsibilities of home ownership.
  2. Loan Repayment Ability: Reporting assets demonstrates to lenders that you are a reliable borrower who can make timely mortgage payments. By showcasing your assets, you’re assuring lenders that you have the means to fulfill your financial obligations.

Types of Assets to Include on a Mortgage Application

When filling out your mortgage application, it’s crucial to provide a comprehensive list of your assets. Here are the key asset categories to consider:

Cash and Savings Accounts

Include all the money you have in checking accounts, savings accounts, money market accounts, and certificates of deposit (CDs). These liquid assets demonstrate your immediate financial resources.

Investment and Retirement Accounts

List all your investment accounts, such as brokerage accounts, IRAs, 401(k)s, stocks, bonds, mutual funds, and other securities. These assets showcase your long-term financial planning and potential additional income sources.

Real Estate

If you own other properties, whether they’re investment properties or vacation homes, include their estimated value. This category demonstrates your real estate holdings and potential equity.


Although vehicles are not highly liquid assets, you can still include them on your application. Provide an estimated value to showcase your overall asset portfolio.


If you own valuable items like art, antiques, jewelry, or collectibles, include their estimated value. These assets add to your overall net worth and demonstrate your financial strength.

Business Interests

If you’re a business owner or self-employed, include the value of your business and any equipment you own. These assets provide insight into your entrepreneurial endeavors and potential income streams.

Other Assets

This category encompasses various assets not mentioned above. It can include trusts, royalties, patents, or other valuable possessions that contribute to your overall financial picture.

Remember, it’s crucial to provide accurate and up-to-date information when reporting your assets. Make sure to include supporting documentation whenever possible to substantiate the values you provide.

Demonstrating Proof of Assets

Lenders typically require proof of your assets when you apply for a mortgage. This documentation is essential to validate the assets listed on your application. Here’s how you can demonstrate proof of assets to your lender:

Bank Statements

Provide recent bank statements for your checking, savings, and other deposit accounts. These statements should cover the last two to three months and clearly display your name, account number, and balances.

Investment Account Statements

If you have investment accounts, provide statements that show balances and holdings for brokerage accounts, stocks, bonds, or mutual funds. These statements offer evidence of your investment portfolio.

Retirement Account Statements

For retirement accounts such as IRAs, 401(k)s, and 403(b)s, provide statements that detail the account balances. These statements may also include information about vested employer contributions.

Real Estate Documents

If you own other properties, provide documents such as recent appraisals, tax assessments, or sales contracts to demonstrate their value and ownership.

Vehicle Valuations

If you’re including vehicles as assets, provide documents such as Kelley Blue Book or NADA valuations to showcase their worth.

Business Ownership Documents

If you own a business or have a share in a business, provide proof of ownership and the business’s value. This documentation can include business financial statements, tax returns, or valuation reports.

Other Relevant Documentation

For assets like valuables, antiques, collectibles, or non-traditional assets, provide appraisals or valuations from qualified professionals to establish their worth.

When submitting documentation, ensure that you redact any sensitive personal information, such as account numbers, for security purposes. Keep in mind that specific documentation requirements can vary based on the lender and the type of mortgage you’re applying for. Consult with your lender to ensure you provide the necessary documentation in the required format.

Calculating the Value of Your Assets

To determine the value of your assets for your mortgage application, follow these steps:

  1. Collect relevant documents, such as bank statements, investment account statements, and property appraisals.
  2. Create a comprehensive list of your assets, including cash, savings, investments, real estate, vehicles, and valuables.
  3. Determine accurate current values for each asset using sources like recent statements, online valuation tools, appraisals, or expert opinions.
  4. Organize supporting documentation and provide precise values on the mortgage application.
  5. Be prepared for verification by the lender, who may request additional proof or contact your financial institutions directly.

If you’re uncertain about valuing your assets, consider consulting professionals such as financial advisors or appraisers for accurate assessments. Accurate reporting is crucial to help lenders make informed lending decisions based on your true financial situation.

The Importance of Asset Level for Mortgage Approval

The required asset level for a mortgage depends on several factors, including the type of mortgage, lender requirements, credit score, debt-to-income ratio, and loan program. While there’s no fixed dollar amount, lenders typically require a down payment and consider your overall financial health.

To qualify for a mortgage, you should have sufficient savings, low debt compared to your income, a high credit score, and stable employment. Assets play a crucial role in bolstering your application by showcasing your financial stability and commitment to home ownership. Consulting with mortgage professionals can provide personalized guidance on the appropriate asset level for your situation.

Starting Your Mortgage Application

Once you have a clear understanding of your available assets, it’s time to start the mortgage application process. Obtaining pre-approval for a mortgage is a common first step for homebuyers.

Pre-approval gives you an idea of the likely approval amount and demonstrates to real estate agents and home sellers that you’re serious about purchasing a home. You can begin your mortgage application journey by applying online with reputable lenders like Guaranteed Rate.

Remember, a successful mortgage application relies on accurate reporting of your assets, income, credit history, and other financial factors. By providing complete and transparent information, you can increase your chances of securing the mortgage you need to make your home ownership dreams a reality.

Contact Dan (954-336-1922) for a free consultation!

About Dan Campanella – Mortgage Specialist 

Dan provides clients with years of proven experience and an abundance of financing options for their mortgages. His common sense approach and devotion to customer service is what sets him apart in the highly competitive mortgage industry. Dan prides himself on consistently delivering “referable services” to his clients, referral sources, and partners.