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hi this is Jim zing and today were gonna be talking about how to complete your personal financial statement and so were going to talk about why it matters the sections of it and then summarize into you know how to put this together so to first start off why do you need to fill out a personal financial statement personal financial statement theres really two things that the banker is gonna be looking for theyre gonna look at the total net worth of the sponsorship group so that could just be you if youre buying a deal on your own or if you are combining forces with other people anyone signing on the loan theyre gonna add up their total net worth and compare that to the loan amount and it needs to be greater than the loan amount and then the total liquidity of the sponsorship group needs to be greater than ten percent of the loan amount so lets just take a five million dollar property lets say you get a four million dollar loan and a million dollars in equity four million dollar l