What is a proof of funds letter?

The proof of funds (POF) letter is used by borrowers looking to purchase a rehab or fix & flip property. In order for the investor to put a bid on the house, they must prove that they have enough cash available to close the deal. Where conventional lenders issue a pre-approval letter, hard money lenders like Asset Based Lending issue proof of funds. Essentially, the letter is a statement signed by one of Asset Based Lending’s partners that informs of the buyer’s ability to fund the purchase.

Need a proof of funds letter for a real estate investment or purchase?

Asset Based Lending is happy to offer proof of funds letters to  interested real estate investors. Current borrowers and other interested investors are free to request proof of funds letters if they’re committed to using ABL as a partner to fund their deal.

We understand that borrowers need to move quickly, and our processing team is here to support in the same day the request is made.

If you are not currently a borrower with ABL, there is a one-time $250 processing fee for the proof of funds. However, once this fee is paid you are entitled to unlimited proof of funds requests. If for some reason you don’t get your first or second bid, ABL will be happy to continue issuing proof of fund letters as you continue your search for the perfect investment property. In addition, should you move forward with the project and choose to close a loan with us, the fee will be credited back to you on the HUD at closing. Once you have made the request, a member of our loan processing team will provide you with a secure method to pay the deposit.

Request Proof Of Funds Letter

Please fill out this form to request a hard money lender proof of funds letter for real estate purchase, or email a request to POF@abl1.net. In order for our team to process the request for a funds letter, we need the following information: