What documents are typically needed for Approval?

 

 

 

 

 

Typical information needed to submit your loan to underwriting:

1. Driver’s License

2. Most recent year to date pay stubs showing at least 30 days of income

3. 2021 and 2020 W-2's

4. Most recent 2 months Bank statements (all pages)  showing you have enough funds  to close and explanation for all large deposits.

 For self employed (25% owner of company) borrowers we will likely add the following to underwriting:

5. 2021 and 2022 W-2’s K-1’s  Federal Personal and Corporate Returns along with a year to date P&L through June 30th

For more information call or email John!

Thanks!

John

 

John Marbury

205-266-5669

john.marbury@colonybank.com

NMLS #740833