*Please Note: We will NOT accept bulk upload packages ...
*Please Note: We will NOT accept bulk upload packages. Please upload individually to the appropriate document type*
- Cover Letter explaining the overview of the loan (template provided) - Business Narrative (template provided) - Signed/Dated completed SS89 (Must be Wet Signed) - Current Mortgage Statements
o Include HOI, HOA (if applicable) and Tax info on all properties owned - Assets ? Down Payment, Closing Costs, Etc.
o 2 months consecutive bank statements (if different from income bank statements) - Property
o Purchase Contract (if Purchase) o Prelim within 60 days of submission o Property Profile (If Refi) o Escrow Instructions to include vesting o Condo Cert (if required) ? FundLoans will provide correct form - Income o Verify all parties on bank statements will be on the loan, otherwise an exception will be required o MUST be Self-Employed for 2 years, verified through CPA, Tax-Preparer, or licensing bureau o Business must be in existence for 2 years, verified through CPA, Tax-Preparer, licensing bureau, orwebsite o Personal Bank Statements:
Verify borrower is at least 25% owner of business ? Subject to program. Exceptions allowable.
Provide most recent 12 or 24 months of personal bank statements Most recent 2 months of business bank statements - if no business account available, please see your
Account Executive for details 100% of deposits taken for income ? must evidence activity to support business operations and reflect
transfers to personal account. If deposits are not evidence of business account transfers, or business account does not exist, please see your Account Executive. o Business Bank Statements: (Please contact AE for method specifics) Method 3: Business Account ? 24 Month CPA P&L plus 3 months Business Bank Statements Method 4: Business Account ? 12 Month CPA P&L plus 3 months Business Bank Statements Method 5: Business Account - 12 or 24 Month Accountant/Cert Tax Preparer P&L plus 12 (or 24) months Business Bank Statements Method 5a: Business Account - 12 or 24 Month P&L by CPA/EA only, no bank statements needed Method 6: CPA/Accountant/Cert Tax Preparer Expense Ratio Letter plus 12 or 24 months Business Bank Statements Method 7: Variable Expense Ratio plus 12 or 24 months Business Bank Statements
| NMLS 1202262
Rev. 2/22/2021
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