MORE TREES FOR PAPER!            

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