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Full Doc
Required to Disclose
- Complete Loan Application – Including Income & Employment.
- Credit Report (Cannot be older than 30 days)
- Form W-2 (most recent 2 years)
- Tax Return (if applicable, most recent Personal or Business)
- Borrowers’ ID (Passport or Driver License).
- Purchase Contract (if applicable)
- Submission Form Completed. Click here
- Product and Pricing Form. Click here
Required to Underwrite (in addition to above)
- Most recent W2 for 1 or 2 years + most recent paystubs covering at least 30 days AND/OR 1 or 2 years of tax returns.
- Appraisal Transfer (Click here for Mortgage Capital’s Transfer Policy)
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Bank Statement
Required to Disclose
- Complete Loan Application – Including Income & Employment.
- Credit Report (Cannot be older than 30 days)
- Borrowers’ ID (Passport or Driver License).
- Purchase Contract (if applicable)
- Submission Form Completed. Click here
- Product and Pricing Form. Click here
Required to Underwrite (in addition to above)
- 12/24 months of bank statements (Personal or Business, all months, all pages)
- Income calculation. (Click here for submitting bank statements)
- Appraisal Transfer (Click here for Mortgage Capital’s Transfer Policy)
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P&L Only
Required to Disclose
- Complete Loan Application – Including Income & Employment.
- Credit Report (Cannot be older than 30 days)
- Borrowers’ ID (Passport or Driver License).
- Purchase Contract (if applicable)
- Submission Form Completed. Click here
- Product and Pricing Form. Click here
Required to Underwrite (in addition to above)
- 12/24 months P&L on company stationary prepared and signed by a CPA or Tax Preparer
- Appraisal Transfer (Click here for Mortgage Capital’s Transfer Policy)
We will condition for:
Signed letter from CPA/Tax Preparer confirming that they prepared the borrowers most recent tax returns. letter needs to include the nature of the business, % of ownership, and the date established
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ITIN
Required to Disclose
- Complete Loan Application – Including Income & Employment.
- Credit Report (Cannot be older than 30 days)
- Borrowers’ ID (Passport or Driver License)
- ITIN confirmatioon letter from the IRS
- Purchase Contract (if applicable)
- Submission Form Completed. Click here
- Product and Pricing Form. Click here
Required to Underwrite (in addition to above)
- IRS Form 1099 documenting income.
- Appraisal Transfer (Click here for Mortgage Capital’s Transfer Policy)
-
Foreign National
Required to Disclose
- Complete Loan Application – DO NOT include income & employment information.
- Unexpired Passport
- Purchase Contract (if applicable)
- Submission Form Completed. Click here
- Product and Pricing Form. Click here
Required to Underwrite (in addition to above)
- Copy of lease agreement(s) (if applicable)
- Appraisal Transfer (Click here for Mortgage Capital’s Transfer Policy)
-
Stand Alone 2nd Lien
Required to Disclose
- Complete Loan Application – Including Income, Employment, & 1st Lien Info
- Credit Report (Cannot be older than 30 days)
- Borrowers’ ID (Passport or Driver License).
- Purchase Contract (if applicable)
- Submission Form Completed. Click here
- Product and Pricing Form. Click here
- Copy of 1st Lien Mortgage Statement
Required to Underwrite (in addition to above)
- Income documents corresponding with the qualifying income type.
- Appraisal Transfer (Click here for Mortgage Capital’s Transfer Policy)
-
DSCR (1-4 Residential Units)
Required to Disclose
- Complete Loan Application – DO NOT include Income & Employment.
- Credit Report (Cannot be older than 30 days)
- Borrowers’ ID (Passport or Driver License).
- Purchase Contract (if applicable)
- Submission Form Completed. Click here
- Product and Pricing Form. Click here
Required to Underwrite (in addition to above)
- Copy of lease agreement(s) (if applicable)
- Rent Schedule with expected market rent to calculate DSCR ratio
- Appraisal Transfer (Click here for Mortgage Capital’s Transfer Policy)
-
DSCR (5-8 Residential Units & 2-8 Mixed Use)
Required to Disclose
- Complete Loan Application – DO NOT include Income & Employment.
- Credit Report (Cannot be older than 30 days)
- Borrowers’ ID (Passport or Driver License).
- Purchase Contract (if applicable)
- Submission Form Completed. Click here
- Product and Pricing Form. Click here
Required to Underwrite (in addition to above)
- Copy of lease agreement(s) (if applicable)
- Rent Schedule with expected market rent to calculate DSCR ratio
- Appraisal Transfer (Click here for Mortgage Capital’s Transfer Policy)