Today, lenders are requiring more documentation.  If you want the best rate, you need to be prepared.  Below is a list of documentation that may be required for your loan approval.  If you are unable to provide this documentation, then your loan may be denied or re-classified as either a Stated Income or No Income Loan.

Income Docs for Salaried Borrowers (i.e. owns less than 20% of the firm)

1. Consecutive paystubs for previous two months
2. Consecutive W-2s for previous two years
3. If you receive a bonus, copy of paystub reflecting bonus
4. If you receive a commission, copy of paystub reflecting YTD commission income
5. If you receive a commission, copy of Personal Fed Tax Returns (all schedules) for previous two years
6. If you receive a K-1, copy of Personal Fed Tax Returns (all schedules and K-1) for previous two years

Income Docs for Self-employed Borrowers (i.e. owns more than 20% of a business)

1. Consecutive Personal Fed Tax Returns (all schedules) for previous two years
2. Consecutive Business Fed Tax Returns (all schedules) for previous two years
3. YTD Profit and Loss Statement for the business

Misc Income Docs (if applicable)

1. If you own rental property, copy of current rental agreements
2. If you own rental property, copy of consecutive Personal Fed Tax Returns (all schedules) for previous two years
3. If you are retired, copy of Pension Award Letter
4. If you receive Social Security, copy of Social Security Award Letter
5. If you receive alimony/child support as income, copy of divorce settlement and copy of 12 months of cancelled alimony checks
6. If you receive substantial dividend/interest income, copy of Personal Fed Tax Returns (all schedules) for previous two years

Assets

1. Account statements for each bank, mutual fund, and/or brokerage account for the last 3 months (all pages)
2. If you have any large deposits into any of these accounts then we will need a letter of explanation
3. if you will be receiving a monetary gift, then we will need a copy of the signed gift letter, a copy of the gift check, and a copy of the deposit receipt

Identification

1. Copy of Driver's License (or Passport
2. Copy of Business Card (if applicable)

Liabilities

If you owe alimony/child support, copy of divorce settlement
If you have a 401K loan, copy of loan documents
If you are renting, copy of canceled rent checks for last 12 months

BY PROVIDING THESE DOCUMENTS, YOUR LOAN'S PROCESSING TIME WILL BE EXPEDITED.  IN ADDITION, YOU WILL SAVE YOURSELF APPROXIMATELY $1000 BY PARTICIPATING IN OUR CUSTOMER APPRECIATION PROGRAM (see Streamline Financing).  

Click here to start your on-line Loan Application.