Full documentation

In most cases a borrower can obtain the most competitive rates by documenting their income and assets. The lender will use this documentation to determine a borrower’s ability to repay the mortgage. Formal verification will require the borrower to submit the following items to the lender for review prior to approval.

• Last 2 years W2’s
• Pay stubs covering the past 30 days  
• Home owner’s insurance declarations page
• Most recent asset statements I.E. stocks, bonds, 401K, savings etc.
• Most recent mortgage statement for all mortgages
• Copy of your drivers license 
• Last two years tax returns ONLY IF SELF EMPLOYED
• Last two years business license (or CPA letter) ONLY IF SELF EMPLOYED

Stated Income

If you are self employed, have recently taken a new job, or want to simply reduce the amount of paperwork needed to close your loan, stated income may be the right loan program for you.

Stated income verified asset programs allows a borrower to "state" their annual income, eliminating the need to document their income through pay stubs, tax returns and other official documents. Stated income loans will only require the borrower to provide the following documentation.

• Home owner’s insurance declarations page
• Most recent asset statements I.E. stocks, bonds, 401K, savings etc.
• Most recent mortgage statement for all mortgages
• Copy of your drivers license 
• Last two years business license (or CPA letter) ONLY IF SELF EMPLOYED