Purchase. Documents, Timeframe and Fees.
Home Loan Timeframe.
- Up to 4 weeks
Home Loan Closing costs.
- Closing costs range between 0 and 3 % of loan amount
- No cost option is available.
Documents needed for Purchase Loan.
- Purchase Agreement Earnest Money Deposit Receipt
- W-2 for the previous 2 years
- Paystubs covering 30 days period
- 3 most recent bank statements on all depository accounts
- Homeowners' insurance information (agent's name and phone number or Insurance Declarations page)
- Personal tax returns for the previous 2 years
- Landlord information of all residences within the past 2 years
+ Self Employed Borrowers only:
- Business tax returns for the previous 2 years
- Business Licenses covering a 2 year period
- Year-to-date profit and loss statement (P&L)
+ If Applicable:
- Final divorce decree
- Proof of child support receipt and continuance
- Full bankruptcy filing
- Bankruptcy discharge
- Copy of a Green Card
- Copy of SSN card
- Disability Award Letter
- SSI Award Letters
- Pension Award and Continuance Letters