Full Documentation Loans

A full documentation loan is one that requires that the borrower present all necessary documents, including:

  • income tax returns for 3 years both individual, corporate on all entities borrower owns 20% or more;
  • verification of assets;
  • bank account information;
  • Personal Financial Statement
  • Schedule of Real Estate Owned
  • verification of retirement accounts;
  • stocks bonds and information on all real estate owned.
  • Previous 3 years tax returns and or fianncials on Subject property
  • Current YTD Income/Expense Report and Balance Sheets
This type of loan usually offers lower rates because it is less risky for the lender. On the other hand, if you are self employed you may not have all of the required documents and should look into a stated income loan.
Full documentation loans provide the best interest rate and terms for the borrower. The more detailed and verifiable information provided to the lender the better terms on the loan. The lender will require detailed information on the borrower and the property.
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