I received an Email from my mortgage broker when working with my buyers. I just thought I would share the information with the Community. There are no more stated loans. We must prove all income resources. I just wanted to share it with you. Make sure your buyers cooperate with the loan officer when it comes to paperwork. It could kill the deal.
For W2 Wage Earners:
Copy of most recent 30 days' pay stubs
Copy of last 2 years' W2 forms
Copy of Drivers License
Copy of Social Security Card -OR- Passport
Copy of most recent bank statements for checking/savings accounts (including all pages)
Copy of most recent quarterly statement for 401(K), mutual funds, investment accounts
Copy of most recent mortgage statements (for all properties owned)
Name and phone # of homeowners insurance agent who holds policy for subject property
For self-employed borrowers:
Copy of past 2 years' personal tax returns including all schedules
Name and phone number for CPA
For retired borrowers:
Copy of Awards Letter for Social Security/Disability/Retirement income
Copy of past 2 months bank statements showing the continuous deposit of the above income
Make the Call, Set the Plan, Do the Deal$!
Feel free to listen to my Radio Show to learn more about the phoenix real estate market, new trends, and the latest opportunities. The Real Estate and Beyond Radio Show Airs every Saturday from Noon-2:00pm on Conservative Newstalk KKNT 960am in Phoenix, Arizona. You can listent to past shows, or stream on-line.
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