For The People Realty 

Dream It... Believe It... We Make It Happen!!!

 

Home

Our Listings

Property Search

New Homes Inventory

Rentals

page 2

Property Management

Buying 101

Buy Checklist

Selling 101

Sell Checklist

Mortgage Calculator

Meet Our Agents

Edgardo Arvelo

Contact Us

Materials you'll Need to Apply

Items you will need
You may be asked for some or all of this documentation during the application process. If you apply online or over the phone, a loan officer will ask you to either fax or mail these documents.

Income verification
Pay stubs for the last 30 days
W-2 forms for the last two years
Child support/alimony-friend of the court printout or 12 months cancelled checks*
Awards letter for Social Security, and 1099 for disablility income
When income is derived from rental income, commission, interest, or sources of income other than salary, tax returns may be required

Sources of funds/down payment
Original bank statements for the last three months, including savings, checking and investment accounts
Stock and securities account statements for the last three months
HUD settlement statement if using funds from the sale of property
Sale of asset - proof of ownership, proof of sale and proof of funds transfer
For gift funds - a gift letter, evidence of transfer, and sometimes evidence of withdrawal

If you are self-employed
Signed completed tax returns for the past two years, including personal, partnership and corporate if applicable and all schedules
Business profit and loss statement year-to-date for current year if more than three months have passed since the end of the tax year
Current balance sheet

Payment history
Cancelled rent or mortgage payment checks for past 12 months, if not available on credit report
Copy of land contract, if possible
Child support/alimony
Bankruptcy/Consumer Credit, if received

Additional information, if applicable
Purchase agreement, including legal property descriptions and any addendum
Divorce decree
Explanation of discrepencies in credit

*Child support or alimony income can be used if you received it for the past 12 months and it will continue for at least three years into the loan period. However, alimony child support or separate maintenance income need not be included if it is not to be considered as income available to repay the loan.

For The People Realty, LLC. ©2007
Webmaster:Arvelo@realtyforthepeople.com