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