Required Documents for DSCR - Rental Income Loan Only
Rental Agreement | Property Tax Statement | Property Insurance Statement | Govt Picture ID
Required Documents for W2 Employee
Current Pay Stub | W2 -2022 | W2 -2021 | Property Tax Statement | Property Insurance Statement | Govt Picture ID | Bank Statement
Required Documents Self Employee - 1099
Profit and Loss Statement | Property Tax Statement | Property Insurance Statement | Govt Picture ID | Bank Statement
To Do List for All Borrowers
Know the data on your credit report
What is ….
Credit invisible
Credit reporting company
Credit report
Credit score
Fair Credit Reporting Act
Fraud alert
Identity theft
Military active duty alert
Security freeze
Specialty consumer reporting company
Tenant screening report
Thin credit file / No credit file
Explore key terms
What information do I have to provide a lender in order to receive a Loan Estimate?
What is ….
Loan officers are required to provide you with a Loan Estimate once you have provided:
your name,
your income,
your Social Security number (so the lender can pull a credit report),
the property address,
an estimate of the value of the property, and
the desired loan amount.
