Borrower requirements:

 Minimum $ 20,000 verifiable household annual income

 2 year verification of employment

  If the applicant is an independent professional or business owner, a 2 year minimum history in the same activity will be required.

  Home phone numbers, cell phone numbers, email address and any other contact information

  Foreign (non-Mexican national) buyers will need a current passport for their country of origin - USA or Canada.

  Verification of assets sufficient to close and required reserves (If any)

  650 minimum FICO/Beacon score and no mortgage late payments

Items needed to process your loan application:
 

  Copy of sales contract for the property being purchased.

  Copy of contract for sale of current home (If applicable)

  Last two years W-2's and 1099's for each applicant.

  Current 30 days of consecutive pay stubs for each applicant and continue to save them until closing.

  3 months most recent statements for each checking, savings, money market, CD, stock brokerage, IRA, or retirement savings account. PROVIDE ALL PAGES OF STATEMENTS EVEN IF BLANK.  Make certain the financial institutions logo/corporate identity appears on at least the first page of the documents as well as the borrower/co-borrower's name. 

  Complete, executed & signed copy of divorce decree for each applicant
(If applicable)

  Record from child support office showing payments received for the proceeding 12 months.

  Current payment slip showing lender name and account number for existing home mortgage and any rental properties you own. If you are renting, provide your landlord's name, address, and phone number. If taxes and insurance are paid separately, provide verification of amounts.

  Copies of current lease agreements for each residential rental property you own. Copy of release of lien for any property that you own clear of liens.

  Scanned copy of Passport for each borrower is required.  High quality, color scan in .pdf format is preferred. Also required for all substitute beneficiaries.

  Proof of Residency - copy of utility, phone, or property tax bill from home.

SPECIAL SOURCES OF INCOME

If you derive more than 25% of your employment income from bonuses or commission, if you are self employed, or if you own 25% or greater interest in the business from which you derive your primary income, you must also provide.

  Last two years signed personal tax returns (All schedules and forms.)

  Year-to-Date Profit & Loss Statement for the current year for that business.

  Last two years business returns (Form 1065 or 1120) if business is a "C" corp. or partnership.

  Last two years K-1's if it is a Subchapter S corporation or partnership.

  If you are self-employed, please provide 2 forms of self-employment verification such as a letter from your accountant, business license, tax license, etc.

WHERE TAX RETURNS ARE

 REQUIRED, PLEASE PROVIDE ALL

 SCHEDULES, ATTACHMENTS AND

 FORMS TO THE RETURNS.

If you have not filed your tax return for your most recent taxable year, please provide tax returns for your 2 previous years, a year-end Profit & Loss statement for the last taxable year (not filed yet) and a current year to date P & L. If you are unable to provide the requested documents, please contact your loan officer. Alternative methods of verification may be available.