To better prepare for your purchase, these are the things loan processing agents typically need:

1. Online application complete with SSN so we can pull credit
2. Last 2 paystubs
3. Last 2 year’s W2 forms
4. Last 2 bank statements from all accounts to be used for downpayment, closing costs or reserves
5. Best contact to verify employment

If a client earns bonus, commission, or other non-base compensation:
Last 2 years’ end of year paystub (we use a 2 year average of bonus/commission)

If a client is self-employed or receives any type of non-wage income (rental, royalty, partnership, dividends)
Last 2 years’ federal tax returns with all schedules
K1s for all entities shown on tax return
YTD profit and loss statement to show income trend is steady or improving

If a client owns 25% or more of a partnership/incorporated business:
Last 2 years’ federal corporate tax returns

If a client owns any property:
Last mortgage statement, home insurance, statement from HOA to confirm dues, and Property tax bill
If rental property include copy of current lease OR approximate market rate rent

Additional items if applicable:
If divorced or in process: Marital Settlement Agreement and final divorce decree
If bankrupt in last 7 years: Bankruptcy discharge paperwork. If chapter 13 need payment history and letter from court to confirm on-time payments
Student loan statements to show terms of loan if currently in deferral