Income Documentation Requirements
For W-2 Employees:
- Most recent pay stubs covering a full 30-day period
- Copies of W-2 forms for the past two years
- If you also have self-employment, rental, or other income not reflected on your W-2s, please include your most recent two years of personal tax returns
For Self-Employed Borrowers or Those Working for a Family-Owned Business:
- If you receive W-2 income: provide your last two years of W-2s and personal tax returns
- If you own 25% or more of the business:
- Last two years of business tax returns
- Year-to-date profit and loss statement (audited or unaudited)
- Most recent three months of business bank statements to verify gross revenue
- Alternatively, personal bank statements may be used to document income
Assets:
- Provide copies of your most recent two months of bank statements
- Alternatively, a bank branch printout showing the past 60 days of transactions and current balance is acceptable.
Real Estate:
For all real estate you currently own or expect to own in the near future (e.g., a signed contract to purchase a rental property closing in five months), please submit:
- Mortgage statements
- Property tax, homeowners insurance, and HOA documents showing current payment amounts
- Lease agreements and proof of rental income received over the past three months
- If rental income is being used to qualify, include your personal tax returns for the most recent year.
Identification:
- Provide a copy of a valid government-issued photo ID for each borrower
- If you are not a U.S. citizen, please include your immigration documentation and/or work permit, if applicable
Subject Property (Purchase Transactions)
- If you have an executed purchase contract, submit a copy along with all addenda and amendments
- Include a copy of the property survey and the declarations page of the hazard insurance policy.
After reviewing your file, we may request additional supporting documents as needed to complete the loan process.
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) .