Greg Beckham
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    • Home
    • Real Estate
      • Buyers
      • Sellers
    • Home Loans
      • Loan Programs
      • What you need to gather
    • Contact
  • Home
  • Real Estate
    • Buyers
    • Sellers
  • Home Loans
    • Loan Programs
    • What you need to gather
  • Contact

Documents you may need to get approved

Income Documentation

Each borrower may be asked to supply income documentation for all sources of income considered for repayment of the loan. Below are items you may be asked for if they are applicable.

Income Tax Returns

Most recent 2 years filed Federal Income Tax Returns (1040's) for each borrower.

W-2's

Most recent 2 years W-2's for each borrower.

Paystubs

2 most recent paystubs for each borrower. 

Social Security Award Letters

Each year Social Security provides you with an income letter. We will need the latest 2 years letters.

Pension or Retirement Letters

When you retired, your pension or employer provided you with a letter confirming the monthly or yearly amount of income. 


Assets

If you are purchasing a new home, you must provide verifiable evidence of the source of funds you will be using for your down payment and closing costs. Most often, these funds must be 'seasoned,' meaning they have been in the verified account for 3 or more months.

Bank, or Brokerage Statements

The last 2 months, bank, or brokerage statements, for each account from which funds for your transaction will be used. If you are using funds from a retirement account you must also provide a letter from the source describing their "Terms of Withdrawal." 

Gift Letter

If some or all of the money being used for the transaction is coming from a family member as a gift we will provide you with a gift letter.


Other Items

For a home purchase you only need to provide the items below that are applicable to you.

Identification

Copy of current valid driver license or other acceptable ID for each borrower.

Purchase Contract

The complete executed purchase agreement.

Mortgage Statement

The latest mortgage statement from your current lender, and any other mortgage each borrower has on other properties.

Home Insurance

We need a copy of your home owners insurance declarations page, and contact information for your insurance agent (if applicable).

Property Tax Bill

Your latest property tax bill (if applicable).

Rental Agreements

If you own rental properties we will need a rent roll and lease agreements.

Letters of Explanation

Sometimes we will require signed letters of explanation for various reasons. 

Borrower and Credit Card Authorization

The borrower authorization is a document we provide that you must sign authorizing us to pull your credit and contact your employers, banks and other financial institutions to verify information provided. The credit card authorization is only used to order your appraisal once your loan has been approved.  

More information and documentation may be required to complete your loan approval.

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CA DRE Broker License #01093185

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