Documentation Types

Most loans require full documentation of income and assets.

Full income and asset verification

  • Income is fully verified with two years tax returns, W-2 Forms, and one current month’s pay stubs.
  • Assets are verified with two monthly account statements.
  • All FHA (except Streamline Refinance) and conventional conforming (Fannie Mae and Freddie Mac) loans require full income and asset verification.

Reduced Documentation with full asset verification

  • Available on non-conforming loans for the self employed borrower. Income is stated but not verified.
  • Business ownership must be verified with a CPA letter.
  • Sufficient assets must be fully verified with two monthly account statements.
  • Gift funds not allowed.
  • Maximum loan-to-value 65%.

NIVA – No income stated or verified with full asset verification

  • Available on non-conforming loans.
  • Verification of business owner and/or employment required.
  • Maximum loan-to-value ratio 60%
  • Minimum FICO score 720