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This Mortgage Tip is brought to you by the Jefferson Lewis Board of REALTORS® and Northern Credit Union. When buying a home, a seller may require that you have proof of funds or be pre-qualified or pre-approved. What do these terms mean and how do you get these documents? Hi, I am Lance Evans from the Jefferson-Lewis Board of REALTORS®. I will start with Proof of Funds. This is a document that shows how much money you have available for the purchase. These are funds that you can readily access fairly quickly. The funds can be in a bank or other financial institution. Items like mutual funds, life insurance, etc. would not qualify. Depending on the amount needed  for the purchase, a proof of funds letter could stand alone or be used in conjunction with a pre-qualification or pre-approval letter. Next week, I will talk more about how the latter two documents will help you to Dream It, Live It, Own It in Northern New York. This Mortgage Tip is brought to you by Northern Credit Union. If you are building, buying or refinancing, Northern will get you the lowest mortgage rate GUARANTEED.