Most borrowers are paid weekly, bi-monthly or monthly. If that’s you, you’ll need to provide:
Pay Stubs for the most recent 30-Day period
W-2 Forms for the past two years
If you are self-employed, own your own business or earn income from investments, you’ll have to provide some additional information about your corporation or investment
Signed and Complete Tax Returns for the most recent 2 Years period – Personal, Partnership and/or Corporate
We’ll also need a Year to Date Profit and Loss statement for the current year
We’ll need to verify your funds for down payment and closing costs and what the source was.
To verify we’ll ask to provide Bank and Investment Account statements for the past 3 months
If you’ve sold a another property and are you’re the proceeds from that sale to finance the new home we need the RESPA HUD-1 statement or your CD - Closing Disclosure
If you are receiving a gift we’ll need to see a gift letter and proof of deposit
If you are selling an asset to fund your transaction, we’ll need to proof of ownership, Proof of sale and proof of funds transfer.
We will pull a Credit Report at time of application and most of you credit information will come from it. We may, however, need additional information.
If your rental payment history does not show on your report, we may require 12 month cancelled rents checks
If you you’ve filed for bankruptcy or have had a property foreclosed. We’ll need documentation for those filings
If you are receiving Child Support or Alimony we’ll need to see the order and proof of receipt.