Application Documents Required for Pre-Approval and New Loan Application
a) Current Mortgage Statement(s) for the first and second, (if any) mortgages for the subject property.
a) Most current bank statements, with all the pages, including blank ones.
a) Copy of the insurance policy or the insurance agent name and phone number.
a) If your property is a condominium, please provide contact name and phone number for HOA or Management Company.
Income – Salaried Individuals (W-2 Recipients Only)
a) Paystubs. Most current all paystubs for the last 30 days
b) W-2's for the last year only.
Income - For Self-Employed and Commissioned Individuals.
a) Paystubs. Most current all paystubs for the last 30 days.
b) W-2s for commissioned or self-employed individuals, if they are W-2 recipients.
c) Tax Returns. Copies of federal personal and business tax returns for the last two years with all schedules. If extension has been filed for the last year than the tax returns for the two years preceding the year extension was filed, including copy of the extension
a) Tax Returns. Copies of federal personal tax returns for the last two years with all schedules. If extension has been filed for the last year than the return for the two years preceding the year extension was filed,including copy of the extension.
Retirement, Alimonies and Other Income
a) Pension Award Letters, Form 1099-R, Tax Returns, Bank Statements, or other prove of current income. .
For Purchase Transaction in addition to the above please submit the following:
a) Selling (Buyer) Real Estate Agent's Name, Email and Phone Number.b) Copy of the Purchase Agreement mutually accepted by Buyer and Seller.c) Escrow Company/Officer information, such as Name, Email and Phone Number.
Owners of 25% plus interest in business and receiving W-2's from their business, are considered self-employed.
Owners of less than 25% of the business and W-2 recipients are considered salaried employee.
If the same individual is a salaried employee and self-employed in the same time, than the documents described in Paragraph 5 & 6 must be provided.
All loan applicants/co-borrowers whose income will be used for the purpose of qualification for the loan should submit their financial information.
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