Things you will need to apply for a loan;
- We will need the following items to start the pre-qualification process;
If you are a W-2 EMPLOYEE;
- Pay stubs for the previous month
- W2’s for the previous 2 years
- Bank statements for the previous 2 months (all pages)
If you are a SELF-EMPLOYED or a BUSINESS OWNER;
- Full tax returns and 1099’s with all scheudles for the previous 2 years
- Current profit and loss statement, and balance sheet (signed and dated)
- Bank statements for the previous month (all pages)
If you have RETIREMENT, DISABILITY, TRUST, or OTHER sources of income;
- Pensions or Social Security documents with award letters or tax documents
- Bank statements for the previous month (all pages)
- Proof that income will continue for at least 3 years
- Trust fund income (documentation funds have been received for previous 2 years)
If you have RENTAL PROPERTIES;
- Provide rental agreements if property is not filed on tax returns
- Tax returns for the previous 2 years (page 1 and 2 of Schedule E)
ADDITIONAL INFORMATION (if applicable)
- Signed and recorded copy of
- Divorce Decree, Child Support Order, Spousal Maintenance orders
- Complete bankrupcy papers (full discharged) if less than 7 years ago
- Lender originated “Gift Letter” and a complete paper trail for the gifted money
