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Conventional, Conforming Loan ($417,000 or less)
One month of current financial
statements.
We must show you have the cash
required to pay the closing costs and down payment
on your purchase. Additional cash reserves beyond
the requirement strengthens your application.
Include bank statements, retirement accounts,
broker accounts, mutual funds, CDs, and other
liquid assets.
A current pay stub with
year-to-date totals for each borrower. If retired, a
copy of your retirement check stub or statement of
retirement account.
We will need tax returns (and
W-2s if applicable) for the last two years if any of
the following apply to you:
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Your occupation is in sales.
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You earn commissions.
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You are paid a bonus and need
to use the bonus income as part of your
qualification.
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You earn overtime and need to
use the overtime pay as part of your
qualification.
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You have rental property.
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You are self-employed. (We’ll
also need your business tax returns.)
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You earn dividend or interest
income that you need to use as part of your
qualification.
Have you ever declared
bankruptcy? If so, we’ll probably need a copy of the
bankruptcy documents.
Are you divorced and paying or
receiving alimony or child support? If so, we’ll
probably need the divorce documents. |
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