Documentation, commonly referred to as docs, are the sources that confirm borrower(s) actually have what they claim. You can generally break documentation into two distinct categories: initial docs and conditions. Think of it like a risk ladder—different loan types sit in different buckets, and each bucket has its own documentation requirements. On this page, we focus on classic products, which typically require the most documentation.
Common Issues w/ Documentation:
Transaction History
Bank Statements
Sourcing Funds
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Terminology Page. Subpage of wiki.
Initial Docs
Initial docs for a traditional loan depend on whether a borrower is self-employed or not.
Traditional Employment (W2)
Last 30 days worth of paystubs.
Last 2yrs of W2s
Self-employed (1099)
Last 2yrs [filed] tax returns (ALL schedules, forms, and pages)
Only 1yr required if we can prove you’ve been in business >5yrs
Conditions
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