Statements, every page
Bank, brokerage and retirement statements, every page as the bank issues them, even the blank ones. A retirement account also needs the plan’s withdrawal terms.
Documents checklist
Haddonfield, Camden County
The paper trail for your down payment: a guide for Haddonfield, NJ buyers
For Haddonfield buyers: how a lender follows the money for the down payment and closing costs, from savings and investments to the sale of a home or help from family, and the habits that keep the trail clear. Fidelity Residential is a direct, licensed mortgage lender with a New Jersey office on Route 36 in West Long Branch, in Monmouth County, and we lend across New Jersey.
- Direct, licensed mortgage lender
- NMLS #103098
- Equal Housing Lender
What do you want to know?
Pick the closest, or call and talk it through.
Fidelity Residential · NMLS #103098 · Equal Housing Lender
Haddonfield housing
Young families and older houses
Haddonfield’s population is about 12,600, in about 4,500 homes, by the American Community Survey’s 2020 to 2024 estimates.
Half of households, an estimated 50.0 percent, include children under 18, and about one resident in three is under 18. An estimated 74.2 percent of the 3,500 or so owner-occupied homes, about 2,600, are mortgaged. By the same estimates, the median owner-occupied home is worth about $755,300.
Fidelity Residential is a direct mortgage lender licensed in New Jersey under a Residential Mortgage Lender License. Our office is at 121 NJ-36, Suite 230, West Long Branch, in Monmouth County; we do not have an office in Haddonfield, and we lend across New Jersey.
The homes
- Older than 1940: an estimated 50.1 percent of homes were built in 1939 or earlier
- One-family detached houses: an estimated 80.8 percent of homes
- Owner-occupied share: an estimated 83.2 percent of occupied homes
- Valued from $300,000 to $499,999: an estimated 19.7 percent of owner-occupied homes
- Median age of residents: about 39.0 years, by the estimate
Source: US Census Bureau, American Community Survey 5-year estimates, 2020 to 2024. Estimates, not counts.
Where it comes from
Each source of money has its own paper
The lender verifies the money for the down payment, the closing costs and the savings you keep after closing. What it asks for depends on where the money sits.
The closing statement
Money from the sale of a home arrives as one large deposit, and the closing statement from the sale explains it. Money that has just landed may need time in the account in some programs.
Buying a homeA gift letter
A gift from a relative needs a gift letter and a record of the money moving, and the loan officer should hear about it before it moves.
FHA loansBorrowing part of it? Borrowed money for closing usually has to be secured by something you own and documented, and the payment on it counts as a debt.
Deposits
The deposits a lender asks about
Underwriters read your statements line by line. Regular pay going in is easy to follow; a large or unusual deposit needs a short note saying where it came from, with the paper behind it.
Cash. Avoid unexplained cash deposits in the months before you apply.
Transfers. Moving money between accounts until the trail is hard to follow is one of the habits that sinks first-time files. If money has to move, keep the statements for both accounts.
Names. The name on each account should match the name on your application; if it does not, say why.
How to send them
- Every page: every page of every statement, as the bank issues it
- Copies: clear copies, not originals
- Fresh ones: recent statements, and new ones again before closing
- Notes: a short note for any large or unusual deposit
- Names: the same names as on the application, or the reason
Until closing
Keeping the money where the lender can see it
Once your statements are in, the money is part of the file. Documents can go out of date during a long search, so expect to send fresh statements before closing.
No new credit. Opening new credit or buying something large on credit while the loan is in process adds a payment, and a new payment counts as a debt.
Keep a cushion. Some loans ask for savings left after closing. Weigh the full cost of owning, with taxes, insurance and upkeep, before every dollar goes into the house.
Insurance and the cash to close. With half the homes here built before 1940, get the homeowners insurance quote early: the first year’s premium and the escrow deposits are paid at closing.
Questions
Questions from Haddonfield buyers
Do you lend in Haddonfield?
Yes. Fidelity Residential is a dba of PFN Lending Group, Inc. (NMLS #103098), which holds a New Jersey Residential Mortgage Lender License, and we lend across New Jersey. You can check the licence on NMLS Consumer Access (opens in a new tab).
Do you have an office in Haddonfield?
No. Our office is at 121 NJ-36, Suite 230, West Long Branch, NJ 07764, in Monmouth County, and we lend across New Jersey. Call 732-686-9999 to talk with a licensed loan officer.
Why does the lender ask about one deposit?
Large or unusual deposits are explained and traced to their source. A short note and the paper behind it, such as a closing statement, usually settle it.
Can I use money from a retirement account?
Retirement accounts can be part of your savings. Send the statements, every page, and the plan’s withdrawal terms; tax questions go to your tax adviser.
Can family help with the down payment?
On many loans, yes. You need a gift letter and a record of the money moving, and the loan officer should hear about it first.
Do I need to send every page of a statement?
Yes: every page, as the bank issues it, even the pages that look blank.
Talk with a loan officer near you
Get a quote online, or call us and talk it through with a licensed loan officer.
What happens next
- Tell us about your loan. A few quick questions about the property and the loan you want. No credit check to start and no obligation.
- A licensed loan officer reviews your answers and follows up with you, usually within one business day.
- This is a request for a quote, not a loan application and not a commitment to lend.
This page is general information, not a commitment to lend. Programs, terms and eligibility depend on credit, income, property and underwriting review and are subject to change without notice.
Reviewed by Robert Shamie, CEO, NMLS #241428 · Last reviewed:
Fidelity Residential (PFN Lending Group, Inc., NMLS #103098) is a direct mortgage lender licensed in 40 states and the District of Columbia, with 26 years in business.