Documentation
For Purchase Transactions
- Purchase Agreement
Income & Personal Assets
- Pay stubs (last 30 days)
- Statements for each bank, mutual fund, and/or investment account (last 2 months)
- Explanation and source for any large deposit showing on statement/s If large deposit was a gift:
Past two years:
- Names and addresses of each employer or source of income
- W-2’s
- Signed 1040 Federal Tax Returns all pages
- Recent P&L (if self employed)
- Corporate or partnership tax returns (if you own 25% of a company)
- K-1’s if ownership in any S Corp
Debt
- Disclosure of all debts outstanding
For All Real Estate Owned
- Current rental agreements (if applicable)
- Mortgage Statement for all outstanding mortgages
- Homeowner's Insurance
- Homeowner's Association information and statement (if applicable)
- Property Tax Bill
For Individuals with Retirement Income
- Pension Award Letter
- Social Security Award Letter
For Individuals Claiming Child Support
- Copy of divorce settlement.
- Statement of Child Support Payment or Bank Statements showing direct deposit
Explanation of Derogatory Credit Report Items
- Late payments
- Credit inquiries in the last 90 days
- Charge-offs
- Collections, judgments and/or liens
- Bankruptcy filed within last seven years
- Bankruptcy papers required
