Buyers Pre-approval Process

*THIS LIST IS AN EXAMPLE OF DOCUMENTS THEY MIGHT NEED.

1. Online application complete with SSN so we can pull credit
2. Last 2 paystubs
3. Last 2 year’s W2 forms
4. Last 2 bank statements from all accounts to be used for a downpayment, closing costs, or reserves
5. Best contact to verify employment

If a client earns a bonus, commission, or other non-base compensation:

• Last 2 years’ end-of-year paystub (we use a 2 year average of bonus/commission)
• If a client is self-employed or receives any type of non-wage income (rental, royalty, partnership, dividends)
• Last 2 years’ federal tax returns with all schedules
• K1s for all entities shown on tax return
• YTD profit and loss statement to show income trend is steady or improving
• If a client owns 25% or more of a partnership/incorporated business:
• Last 2 years’ federal corporate tax returns 

 If a client owns any property:

• Last mortgage statement, home insurance, a statement from HOA to confirm dues, and
• Property tax bill
• If rental property- include a copy of the current lease OR approximate market rate rent

 Additional items if applicable:

• If divorced or in the process: Marital Settlement Agreement and final divorce decree
• If bankrupt in last 7 years: Bankruptcy discharge paperwork. If chapter 13 needs payment history and a letter from the court to confirm on-time payments
• Student loan statements to show terms of the loan if currently in deferral