The Verification of Deposit (also known as VOD) is a document signed by the borrower's bank or other financial institution verifying the borrower's account balance and history.

Most lender's want to see that you have six months worth of reserve funds to ensure you are capable of paying back the loan. This also shows the lender that you have some working capital and have been able to save up funds.

On most home loans and mortgages the lender's request a Verification of Deposit to make sure you have enough funds to close the loan, and still have reserves to pay your mortgage payments.

Get more information on Verification of Deposit in the Real Estate Forum.