Loan Documentation
Florida Hard Money Loan Documentation
We need the following loan documentation for all hard money loan submissions:
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Loan Application (1003)
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Credit Report (if available)
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Income Documentation (see below)
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Digital Photos or Appraisal (if one has been done)
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Hazard/ Flood Insurance Declaration Page
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Purchase Contract (if applicable)
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Proof of Identification - Drivers License, Passport, etc.
Full Documentation:
W-2 or Salaried Income:
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Last 2 years of personal tax returns
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2 most recent paystubs
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Last 2 months of personal bank statements
Self-Employed:
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Last 2 years of personal tax returns
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Last 2 months of personal bank statements
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Last 2 years of business tax returns
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YTD (year-to-date) business bank statements
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Last 2 years of business license
Other acceptable sources of income:
Retirement Benefits, SSI, Disability, Foster Care, Public Assistance, Alimony, Child Support, Investment Income, Part-Time or Seasonal Income, Gifts, etc.
Lite, Stated, No Ratio and No Documentation:
Available only on single family residential investment properties and multi-family residential investment properties on a case-by-case basis. Please speak to one of our experienced mortgage specialists to determine whether or not your mortgage transaction qualifies.
Lite Documentation: 12 months personal bank statements.
Stated Documentation (Foreign Nationals Only): State income. For purchases, must provide proof of verified assets to close.
No Ratio Documentation (Self-Employed Only): Provide Full Income Documentation (tax returns) and 50% Debt To Income Ratio is not a factor (Must show ability to repay within reason). For purchases, must provide proof of verified assets to close.
No Documentation: For purchases, must provide proof of verified assets to close
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