Investment Properties: What Documents Do I Need?
Are you looking into a purchasing investment properties? Your Mortgage Broker will give you a list of everything they need from you. It will mostly include the same items you need for a Conventional Loan – However, its always smart to know what your getting into ahead of time. Here is a list of the documents you will need to start gathering for your Lender. They may request others, but these are the most common:
Identification
- Driver’s License, Passport or other State/Federal issued ID
Income
- Paystubs for last 30 days
- Federal Tax Returns for last 2 years
- W-2s for last 2 years
- Proof of any additional income (SS, Alimony, etc)
Accounts
- Last 2 statements on all bank accounts
- Statements for all investment and/or retirement accounts
Property
- Settlement statement from previous sale (if applicable)
- Recent mortgage statements & proof of insurance for all your properties
- Current leases for all rental properties you own
Additional Documents
- Contact info for Landlords for last 2 years (if applicable)
- Divorce Decree/Separation Agreement (if applicable)
- Gift Letter if a family member is helping you with down payment
- Letter of explanation for any late payments, collections, judgements or other negative items on your credit report
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