INCOME

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We must show that you can afford the new payment. 

We need to document your past two years and current work history. 

The lender sets debt ratios that we must qualify for. 

We use your average monthly income divided by your registered debt,

(we got off your credit report) to figure out your DTI, (debt to income). 

The documents needed to figure out you income are;

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W-2 employee;

 

2017  &  2018   W-2’s

Most recent one months’ pay check stubs

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Retired;

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Social Security awards letter

Pension award letter

Still working?  W-2's and 1 months pay stubs

 

Self-employed;

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Do you receive a 1099?  

Do you own a business?  

Do you have rental properties?

Is part of your pay commission? 

If so;

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2017 signed, complete Federal Tax returns

2018 signed, complete Federal Tax returns

2017 signed, complete Corporate Federal Tax returns,

all pages (if owner)

2018 signed, complete Corporate Federal Tax returns,

all pages (if owner)

A corporate, year to date, profit and loss statement,

signed by an accountant or officer  (if owner)

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Do you receive any other income? 

Let us know.

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