We had received a conditional loan pre-approval with the following conditions which has been completed:
1 - Income and reserve documentation: o Two most recent bank statements supporting available funds of no less than $595 in reserves – account must show reserves for two consecutive months, must be sourced, and cannot be gifted.
2 - Current four week pay stub history. Should the verifiable income come in lower than indicated, the pre-approval terms are subject to change.
3 - 2012, 2013, and 2014 W2s o 2012, and 2013 (2014 if filed) tax returns a
4 - Copy of a Driver’s License and Social Security Card
5 - Documentation showing Loan of $854 is paid in full and closed.
6 - Documentation from original creditor that student loans are paid in full or deferred 12 months from closing with no monthly payment.
7 - Satisfactory verification of rent showing rental payment of $900/month with no 30 day late payments over the last 12 months. Provide landlord's contact information.
8 - $850 appraisal fee to be collected from borrower or seller prior to ordering appraisal. This can be refunded at close.
