This page is updated on Oct. 1st 2020.
Here is the list of initial documents we need to pre-approve a loan. If you do not have all of them, no worry, ask our loan originator or processor. The purpose is to get accurate information. All documents can be electronic copy.
- Income: For most w-2 income borrowers. Pay-stub cover one month time period. Last two year copy of w-2. Most recent 2 year tax return if you have self employed and/or rental income or other income not documented by paystub/w2.
- For self employed or work for family owned business; last 2 year w-2 if you have w-2 income, last 2 year personal tax return. If you own 25% or more of the business, please provide last 2 year business tax return as well. Please download this questionnaire form and answer questions on it. Please also provide current year to date profit and loss statement (audited or un-audited) plus most rent 3 month business bank statement to show gross sales.
- Copy of Recent Two month Bank Statements.
- Real Estate: For ALL real estate properties you own and will own in near future (for example; you have a contract to buy a rental home from a builder that will close 5 months later.). Please provide mortgage statement, tax, ins, HOA documents show payment. Lease agreement and proof of receiving rental income in past 3 months.
- If you are not a US citizen, provide your immigration document and/or work permit if you have.
- Copy of ID with picture. Make sure not expired (till the loan close/funding day)
- Purchase contract if you have.
- Subject property copy of Survey if you have.
- We may need other documents.
If you have question or your income, asset not have above listed documents, please contact us. If some case, we can accept reduced document, like one year tax return, one year w-2. Or stated income, stated asset(no income and asset documents) .