Required Documents

Documents Needed for Borrowers That Are Employed:

Last 2 years W-2's
Last months pay stubs
Last 2 months bank statements
Mortgage Coupon for 1^st and 2^nd
Copy of home insurance declaration page

Documents for Self Employed Borrowers:

Last 2 years full tax returns
Copy of business license over the past 2 years
CPA letter stating the client has filed as self employed for the past 2 years
Or a letter from a registered agent stating the same info
Last 2 months bank statements
Mortgage Coupon for 1^st and 2^nd
Copy of home insurance declaration page

Documents for Retired Borrowers:

Social Security Benefit letter
Pension award letter
Last 2 months bank statements
Mortgage Coupon for 1^st and 2^nd
Copy of home insurance declaration page

Paperwork Required for Purchasing a New Home:

All of the above stays the same for a purchase transaction. Below is a list of other items that will be required.

Full copy of signed purchase contract.
Contact info for the buyers and sellers agent.
Contact info for the escrow/title company. Sometimes two separate companies.

Types of Documented Loans

Full Doc - Requires all of the above paperwork to qualify for the loan
Stated Income/Verified Assets - We will state the income for the borrower. Will not need W-2's, pay stubs, tax returns, benefit, or award letters. Need the rest though.
Stated Income/Stated Assets - We will state the income and asset requirement to qualify the borrower. Will not need W-2's, pay stubs, tax returns, benefit, award letters, or bank statements.
No Ratio - Same paperwork as stated income/verified assets. Must have a job.
No Doc - No Job/No Assets. We only need mortgage coupons and home insurance.

Note: If your are refinancing a condo you will not have to fax us a copy of the home insurance. Instead we will need the HOA name, address, contact person, phone and fax number emailed or faxed to us.

Note:
1. If you own additional rental property please fax over a complete rental or lease agreement.
2. If the client is a permanent resident alien we will need the green card or citizen status to verify that the lender will do a loan for the client. This will be needed upfront before submitting the loan.

Different programs require varying amounts of documentation. The loan program you select may require more or less documentation. Please contact us for a free, no-obligation consultation.