CENTURY 21: The Gold Standard

Time-Saver Documentation

— Signed sales agreement and copy of deed for the property purchased or refinanced.

— W-2's for the past 2 years and paystubs for the most recent month.

— Names addresses and telephone numbers of employers for the last two years.

— Self-employed individuals must provide full tax returns for the past 2 years plus a year-to-date profit and loss statement.

— Award letter and/or copy of last check if you receive social security, retirement pay, welfare or disability income, etc.

— Last 3 months bank statements for all savings, checking, credit union, certificates of deposits, savings bonds, and/or stock certificates you have.

— Names, addresses, and account number, balance and payment amount of all loans, (real estate, auto, personal, student, etc.). Most recent statement on all credit cards.

— Cancelled checks for the last 12 months mortgage/rent payments, (both sides) or 12 months of bank statements reflecting that your payments cleared.

— Addresses and all places of residence for the last two years.

— Applicants who are being relocated by their employer and will receive relocation benefits, should bring a copy of their relocation package along with appropriate letter/contract for their employer.

— Any applicant that has been previously married must provide a copy of the divorce decree, separation agreement, property settlement agreement and support order.

— FHA - Photo ID and Social Security Card.

— VA - DD214 and VA Certificate of Eligibility.

— Appropriate application fee. (Call the Loan Officer for current amount.)

Allowable Income for Qualifying

• Military Income (Reserves)
• Part-Time Income - Including Seasonal Part-time (2 Year History)
• Retirement and Social Security Income
• Alimony, Child Support or Maintenance Programs. Must continue for three years for conventional loans!
• Notes Receivable (Must continue for three years)
• Interest and dividends from investments
• VA Benefits
• Workman's compensation, disability income, payments for forster children
• Rental income
• Trust Income (Must be Guaranteed)

Unallowable Income Don't Get Caught!!

• Workman's Compensation as it usually does not continue for three years
• Less than 6 month job history
• "Under-the-Table" Income
• Salaried to Commissioned within the last two years
• Heavy Job Switching - Differnet Fields

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LOGO DISCLAIMER: ©2008 CENTURY 21 Real Estate LLC. CENTURY 21® is a registered trademark liscensed to CENTURY 21 Real Estate LLC. Equal Housing Opportunity. Each Office is Independently Owned and Operated.