In general, the documentation we will need for your loan application includes the following, but the type of loan you are applying for and the kind of property the loan will be on will dictate which of these items are required: (Several forms are available on our Downloadable Forms page)
Borrower Information
Loan Application or Personal Financial Statement.
Most recent pay stubs for the last 30 days and W-2s for the past three years, if employed.
Personal tax returns for the last three years (with all schedules).
Statements for each bank, mutual fund, and/or investment account for the last three months.
If you own more than 20% of a business:
Corporate or partnership tax returns for the past three years.
Year-to-Date business Profit and Loss Statement prepared by an accountant.
Business Debt Schedule
Corporate documents (articles and by-laws)
If you own rental property:
Current lease agreements for all rental properties.
If needed, explanation of credit report anomalies, including:
Late payments, credit inquiries in the last 90 days, charge-offs, collections, judgments and/or liens.
Bankruptcy filed within last seven years (bring a copy of your bankruptcy papers).
Resume on Borrower(s) (describe income property management experience).
Property Information
Purchase Agreement, if applicable.
Copy of note, settlement statement from original purchase, and previous Owners Title Policy, if refinancing.
Warranty deed or legal description of property.
Most recent three years plus year-to-date property income and expense statements.
Rent Roll and copies of lease agreements.
Appraisal, if available.
Environmental Report, if available
Miscellaneous
Check for application fee and credit report.
Photo ID and proof of Social Security number.
If applicable, a copy of your divorce decree.
If you are not a citizen, a copy of the front and back of your green card.
If business start-up or expansion, three-year projections and business plan.
If construction project, cost breakdown, contractor bids, and copy of plans and specs.