To apply for a loan, you will have to provide the lender with detailed documentation of your financial history. The lender will request a credit report from a credit agency and will verify the information provided on your loan application.  Be prepared to give:

Full Documentation Loan  -  BEST PRICING
Initial Information needed at loan application:   

1. Social Security numbers for both you and any co-borrowers.
2. Copies of checking and savings accounts statements for the past two months all pages. 
3. If applicable, Most current statements for 401K, Mutual Funds, IRA...ect.
4. Pay stubs for 30 Days. 
5. W-2's for previous 2 years all companies.
6. If self employed, income tax returns for the past two years to verify your income. (Year to Date P&L statement for business if fiscal year other than calender year).
7. If purchase, purchase agreement with all signed counter offers.
8. Homeowner's association information with contact information, if property is a condo or part of a homeowner's association.
9. If this is a refi, copy of current monthly mortgage statement with account # on the statement. 

If Applicable:

• Divorce papers, child support papers and alimoney papers.
• Bankruptcy Papers all pages include the discharge paper signed by the judge.
• Retirement income proof.
• Letter of explanation regarding any late payments, collections, jugements, etc.

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Stated Income
Initial Information needed at loan application:

    Stated Income mortgages are the least expensive option.  We verify employment and assets, income is stated on the application but not verified.  Your stated income must be reasonable for your occupation and assets.  Rates are usually .500% above conventional rates depending on the loan to value of the property and credit scoring.  Loans are available on fixed and adjustable mortgages. 

1. 2 months bank statements ALL PAGES.
2. Most current statements for 401K, Mutual Funds, IRA...etc.
3. Copy of driver licenses and social security cards.
4. State your income on the application, no proof of income required.

If Applicable:

• Divorce papers, child support papers and alimoney papers.
• Bankruptcy Pagers all pages include the discharge paper signed by the judge. 
• Letter of explanation regareding any late payments, collections, jugements, etc.

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No Ratio:
Initial Information needed at loan application:

    A No Ratio loan is a good choice as you do not state any income information on the application.  The rate will be less than a No Documentation loan.  Rates are usually .500% to 1% above conventional loans depending on the loan-to-value of the property and your credit scoring.  Loans are available on both the fixed rate and adjustable mortgages.  Because we do not need income information, no debt ratios are calculated.  We will verify employment and assets.

1. 2 months bank statements ALL PAGES.
2. Most current statements for 401K, Mutual Funds, IRA...etc.
3. Copy of driver licenses and social security cards.
4. We do not state your income on the application, no proof of income required.

If Applicable:

• Divorce papers, child support papers and alimoney papers.
• Bankruptcy Pagers all pages include the discharge paper signed by the judge. 
• Letter of explanation regareding any late payments, collections, jugements, etc.

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No Documentation
Initial Information needed at loan application:

    A No Documentation loan requires no employment, income or assets stated on your application.  No information is verified beyond your credit profile and value of the property.  Rates are 1 to 1.5% higher then conventional financing depending on the loan-to-value of the property and your credit scoring.  Loans are available on both the fixed rate and adjustable ARM mortgages.

     1.  Copy of driver licenses and social security cards.

If Applicable:

• Divorce papers, child support papers and alimoney papers.
• Bankruptcy Pagers all pages include the discharge paper signed by the judge.
• Letter of explanation regarding any late payments, collections, jugements, etc.

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