If you can't prove that you can make the home loan payments, you will have a hard time getting approved for the home loan. This is where income verification comes into play. In the home loan approval process, it is one of the most important factors lenders look at, especially in this economy. Here is the list for the required income verification documents:

W-2 Employed Income

Copies of your most recent 2 paystubs; to be dated within 30 days of application and evidence of year-to-date earnings. Copies of last two years W-2 forms.

Self Employed Income

• Copies of most recent 2 years personal federal tax returns (with all schedules, including k-1’s if applicable).
• Copy of current profit and loss statement and balance sheet

Disability Income

A copy of the disability policy or benefit statement verifying amount received, confirmation that borrower is currently eligible, and continuance of three years.

Pension, Retirement or Social Security Income

You may be asked to provide verification documentation if retirement income is being used on the loan application. Examples of acceptable documentation are:

• Letters from the organization listing the income
• Copies of the retirement award letters(The letter MUST be within 18 months of the application date)
• Copy of the Social Security check dated within 30 days of the application date
• Tax returns
• IRS 1099 forms
• Copies of your most recent pension check stubs (or bank statement if your pension or retirement income is deposited directly in your bank account.) Sometimes it will also be necessary to verify that this income will continue for at least three years since some pension or retirement plans do not provide income for life. This can usually be verified with a copy of your awards letter. If you don't have an awards letter, we can contact the source of this income directly for verification.

Survivor benefits must be verified as continuing for at least three years. Pensions must reasonably be expected to continue for a three-year period.

Second Job Income

Typically, income from a second job will be considered if a one-year history of secondary employment can be verified

Foreign Income

• Last two years tax returns
• The borrower should be a us citizen
• Standard Income Documents with Year To Date income. All Income should be translated to US Dollars
• Verification of Employment should be completed within 10 business days