Standard Conditions for Loan Approval

1. Two most recent pay stubs
2. W-2 forms for the last two years
3. Verification of Employment
4. Awards letter for disability, retirement, or child support for income
5. When income is derived from rental property, commission, interest or other sources of income besides salary, tax returns may be required
6. Child support/alimony — friend of the court printout or 12 months’ of cancelled checks (if applicable)

Sources of funds/down payment:

1. Down payment and source
2. Bank statements for the last three months, including savings, checking and investment accounts
3. HUD settlement statement if using funds from the sale of property
4. Sale of asset — proof of ownership, proof of sale and proof of funds transfer
5. For gift funds — a gift letter, evidence of transfer and sometimes evidence of withdrawal

Payment history:

1. Cancelled rent or mortgage payment checks for past 12 months, if not available on credit report
2. Copy of land contract, if applicable
3. Child support/alimony
4. Bankruptcy/Consumer Credit counseling proof, if received

Additional information, if applicable:

1. Building permit if required by your county/parish
2. Title to trade-in and Bill of Sale
3. Tax receipt on land (if owned)
4. Copy of land deed where home will be placed (see salesperson for more details)
5. Purchase agreement, including legal property descriptions and any addendum
6. Divorce decree