Self-Employed

If you are self-employed, you will need the following:

Verification of Income

Full Documentation:

___ YTD profit and loss statement and tax returns for the last two years.

___ Additional income: social security, veteran's benefits, etc. will require a current award letter along with proof that the source of income will continue for three years and a bank statement if direct deposited to verify receipt. Interest income, rents received and such can be verified in a number of ways, which should be discussed with your Loan Advisor.

Alternative Documentation:

___ 12 consecutive months of complete personal bank statements. Business bank statements may be used if they are in the form of a DBA and are sent to your home address.

Stated Documentation:

___ A copy of your business license and proof of self-employment in the same line of work for the past two years.

Verification of Your Assets and Debts

Assets:

___ List of bank account numbers, the address of your bank branch.

___ List of savings bonds, stocks, 401K or other investments and their approximate market values.

Debts:

___ Other debts that are not noted on your credit report, such as car loans, furniture loans, student loans and other personal and cosigned installment loans with creditor addresses and phone numbers.

___ Statements for all mortgages, or deeds of trust securing real property, which must include an account number and customer service phone number.

___ Alimony or child support payments, which you are required to make, if not directly deducted from your pay.

Miscellaneous:

___ If no established credit history, supply canceled checks for rent, utilities and other recurring obligations to show payment history and amount of revolving debt.