Document where you’ve lived for the past two years: In some cases, this is as simple as typing up a list of your current address, and any other addresses you’ve maintained in the past two years. For a first-time home buyer who has been renting, we may be ask you to get a letter signed by your landlord, verifying that you’ve been paying rent, and that you’ve paid it on time.
Verify your income for the past two years: The fastest way to do this is to copy your last two tax returns, and then fill in the gap with copies of pay stubs from the past two months. We will also ask for copies of the W-2 forms that you attached to your tax return.
Prove all money-related assets: You’ll probably be asked to copy the last two or three months’ statements from all checking accounts, savings accounts, money market, IRA, mutual fund and brokerage (stock) accounts. Since most of these provide electronic statements, consider simply going online to print just what you need.
The sales contract: Of course you’ll need to send a copy of your original purchase agreement to us along with a copy of all bid estimates and consultant report if required.
And here are some guidelines for specific situations:
Income from child support or alimony: You need to copy all court records and include canceled checks for at least the last 12 months. But, if the income will not continue for at least 3 years it cannot be used for qualifying purposes.
Self-employed or paid by commission: You’ll need to include your pay-related schedules when you copy your tax returns. These pages break down the types of income you earned and help validate your income statements. If you own your own company, you may be asked for a profit and loss statement, balance sheet and corporate tax returns.
Bankruptcy: You will need to copy any court paperwork, but you may also be asked to write a statement describing why you filed for bankruptcy.
Disclosures and License
Wolfe Financial, Inc, dba Integrity Mortgage Group is an Equal Housing Lender. As prohibited by federal law, we do not engage in business practices that discriminate on the basis of race, color, religion, national origin, sex, marital status or age.
Wolfe Financial, Inc, dba Integrity Mortgage Group is registered in the Nationwide Mortgage Licensing System (69371) and licensed in the following states. Alabama Consumer Credit License (MC-21398), Georgia Mortgage Lender License (23886), Indiana-DFI First Lien Mortgage Lending License (11108), Kentucky Mortgage Company License (MC76987), Louisiana Residential Mortgage Lending License (69371), North Carolina Mortgage Branch License (L-145206), South Carolina BFI Mortgage Lender/Servicer License (MLS-69371 OTN #1 ), Tennessee Mortgage License (112265), Texas – SML Mortgage Banker Registration (82400).