Loan Documentation - Polonsky.com

CONTACT FORM:

W2 forms for the last two years
Most recent pay stubs covering a 30 day period
Federal tax returns (1040’s) for the last two years, ALL PAGES AND SCHEDULES:
- any filed extensions
- any amended returns
- all K-1s that are listed on the schedule E
Year-to-Date Profit and Loss Statement (for self employed)
Corporate or Partnership tax returns (if you own more than 25% of the business)
Pension Award letter (for retired individuals)
Social Security Award letters (for those on Social Security)

Bank statements for previous two months, ALL PAGES EVEN IF THE LAST ONE IS BLANK
Statements for two months on all stocks, mutual funds, bonds, etcetera
Copy of latest 401K statement (or other retirement assets because they can count as reserves)
Explanations for any large deposits and source of those funds
Copy of HUD1 Settlement Statement on recent sales of homes
Copy of Estimated HUD1 Settlement Statement if a previous home is for sale, but not yet closed
Gift letter
Gifts can also require:
- Verification of donor’s ability to make the gift (bank statement)
- Copy of the check used to make the gift
- Copy of the deposit receipt showing the funds deposited into bank account or escrow

Landlord’s name, address, and phone number (if you rent – for verification of rental)
Explanations for any of the following items which may appear on your credit report:
- Late payments
- Credit inquiries in the last 90 days
- Charge-offs
- Collections
- Judgments
- Liens
Copy of bankruptcy papers if you have filed bankruptcy within the last seven years

Copy of purchase agreement (if you have already made an offer)
To document receipt of child support (if you desire to show it as income)
- Copy of Divorce Settlement (to show the amount)
- Copies of twelve months canceled checks to document actual receipt of funds
Copy of bankruptcy papers if you have filed bankruptcy within the last seven years