Things you'll need to apply for a loan:
The following list was provided by Cherie Kesti of Penrith Home Loans, click HERE for more information or to apply.
If you are a W-2 EMPLOYEE:
• Pay stubs for the previous month
• W2’s for the previous 2 years
• Bank statements for the previous month (all pages)
If you are SELF-EMPLOYED or a BUSINESS OWNER:
• Full tax returns and 1099’s with all schedules for the previous 2 years
• Current Profit and Loss Statement, and Balance Sheet (signed and dated)
• Bank statements for the previous month (all pages)
If you have RETIREMENT, DISABILITY, TRUST or OTHER sources of income:
• Pensions or Social Security documents with award letters or tax documents
• Bank statements for the previous month (all pages)
• Proof that income will continue for at least 3 years
• Trust fund income (documentation funds have been received for previous 2 years)
If you have RENTAL PROPERTIES*
• Provide rental agreements if property is not filed on tax returns
• Tax returns for the previous 2 years (page 1 and 2 of Schedule E)
* Talk to me if you plan on making your current residence a rental property
ADDITIONAL INFORMATION (if applicable):
• Signed and recorded copy of Divorce Decree, Child Support Order, Spousal Maintenance orders
• Complete bankruptcy papers (full discharged) if less than 7 years ago
• Lender originated “Gift Letter” and a complete paper-trail for the gifted money
