The Purchase Contract with Verification of Deposit provides lenders and examiners with details of a purchase transaction to ensure the loan request is within loan to value limits.

This document should be obtained from the applicant (a copy of the purchase/sales contract), and is required when the proceeds of a loan are used to purchase collateral. 

The purchase/sales contract should include:

• Detailed description of item(s) being purchased
• Seller’s name and contact information
• Buyer’s name and contact information
• Total sales price
• Deposit/down payment amount
• Responsibility of fees, charges and services
•  Balance of funds remaining/required to close contract

Once completed, the Purchase Contract with Verification of Deposit is uploaded to Synergy (consumer purpose) or Abrigo (business purpose). If you need additional assistance with Abrigo, please contact _Abrigo Help.