If you are salaried,
provide two years(2)
W-2 and one(1) month
of check stubs. If you
are self-employed, provide
two years tax returns
and a YTD profit and
loss statement.
If you own rental property,
please provide all rental
agreements and two years
tax returns.
If you want to expedite
the approval process,
please also provide
three (3) months bank
statements for each
bank, stock and mutual
fund account.
Provide recent copies
of any stock brokerage
or IRA/401K accounts
that you may have.
If you are requesting
a cash-out refinance,
please submit a letter
of explanation detailing
what you plan to do
with the capital obtained
from the refinance.
If applicable, please
provide a copy of your
divorce decree.
If you are not a United
States citizen, please
submit a copy of your
green card –both
sides. If you are not
a permanent resident,
provide us with your
H-1 or L-1 visa.
Applying
for a home equity loan (HELOC)
If you are salaried, provide
two years W-2 and one month
of pay stubs. If you are self-employed,
provide two years tax returns
and a Year-to-Date (YTD) profit
and loss statement.
If you own rental property,
please provide all rental
agreements and two years tax
returns.
Please provide a copy of the
note on your first mortgage;
you can typically find it
in your closing loan documents.
Please provide a signed letter
explaining how you plan utilize
the proceeds.
If applicable, please provide
a copy of the divorce decree.
If you are not a United States
citizen, provide us with a
copy of your green card (both
sides). If you are not a permanent
resident, provide us with
your H-1 or L-1 visa.
Get
Qualified
Getting
qualified prior to applying for
a home loan can help you learn
how much you can borrow.
When purchasing a home, you may
get pre-qualified or pre-approved.
Usually, you can get pre-qualified
via the phone or on the Internet
in a matter of minutes (10-20
mins). Being pre-qualified is
not as valuable as a pre-approval;
when you are pre-approved you
have to go through a more thorough
process, which includes verification
of your credit, income/employment,
assets & liabilities, etc.
We highly recommended that you
get pre-approved before you commence
looking for your home. The benefits
will be as follows:
Discover the maximum house
you can purchase. This way,
you will not spend precious
time looking for homes that
you can definitely not afford.
Places you in a stronger negotiating
position with the seller(s),
because the seller(s) knows(s)
that your home loan has already
been approved.
Helps you close fast because
your loan has been approved.
If you are salaried,
provide two years(2)
W-2 and one(1) month
of check stubs. If you
are self-employed, provide
two years tax returns
and a YTD profit and
loss statement.
