| Standard
Document List
Please be aware
that NOT all of the documents listed below are required
for all loan programs.
The entire list
would be the standard documents required only if you
wished to qualify for the Premier class of loan programs
(C). For those documents required for the Low Document
programs you will see a (B) and for those documents
required for the No Document program you will see
an (A).
Please also realize
that certain substitutions are allowed for many of
these documents, but the list is given as a resource
for you if you would like to begin immediately compiling
what will definitely fulfill your loan application’s
requirements. If you do attempt to compile these documents
on your own, prior to speaking with us, please make
sure all details for required letters are adhered
to (these can be just a couple of sentences long if
written properly, see example in package). Do not
hesitate to contact us for substitutions if any of
these present the slightest problem for you (often
bank statements, pay statements, credit reports, etc…
can be substituted).
Standard Documents
Required for Various Loan Programs
Key:
No Doc = A
Low Doc = B
Premier = C
(Please see Loan
Programs for more details)
1.
Copy of the Sales/Purchase Contract. (A B C)
· Signed
by all parties
· Not needed
with refinances/remortgages
2.
Copy of Your Passport (A B C)
· Needed
for all individuals applying for loan
3.
Bank Credit Reference Letter (B C)
· Must come
from home country primary bank account
· Must be
on bank letterhead, with author’s name and signature
and phone
· Must be
dated and state current bank balance (listing account
number)
· Ideally
is account any funds coming into the U.S. will come
from
· Must state
how long you have had the account open (must be longer
than 2 years) and the equivalent of “you manage
it in good standing” or “have excellent
credit” with them.
4.
Income Reference Letter (B C)
· Must come
from your current employer or legal independent accountant
(self-employed)
· Must be
on letterhead, including author’s name and signature
and phone
· Must be
dated and state your last two year’s salary
(and percentage of ownership if self-employed) before
taxes (state each year separately)
· Must state
how long you have worked/owned, which must be over
two years
5.
Primary Home Country Mortgage Letter (C)
· Must come
from your primary home (in your home country) mortgage
company
· Must be
on letterhead, including author’s name, signature
and phone
· Must be
dated and state how long you have had an account,
and that you have not been late, at all, on at least
the past two years of payments
· Ideally
states you are a “good credit” risk in
their opinion
6.
Additional Credit Reference Letter (C)
· Can come
from anyone you have owed and/or regularly paid money
to (Ex: Utility Company, Business Distributor, Auto
Loan, Personal Loan, etc…)
· Ideally
on letterhead, including author’s name, signature
and phone
· Must be
dated and state how long you had account (must be
at least two years) and that you were never late on
payments
· Ideally
states you are a “good credit” risk in
their opinion
Please
see the Residential Rate Sheet for loan program pricing
Please
see the Action Center to begin securing your financing
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