Conventional Loans
USE FANNIE MAE OR FREDDIE MAC TO ESTABLISH GUIDELINES FOR BORROWERS
The guidelines include minimum allowable credit scores, income requirements and minimum down payments. A conventional loan can be conforming or nonconforming and have either fixed or adjustable rates.
Conventional Loan Checklist
EMPLOYMENT INFO
Past two years’ completed tax returns.
Past two years’ W-2s, 1099s and any other necessary tax forms.
Most recent 30-day’s pay stubs.
Self-employed borrowers may need three years’ tax returns and YTD Profit & Loss Statement.
SAVINGS INFO
Past two months’ full bank statements for all accounts.
Most recent statements from investment accounts (retirement, 410k, mutual funds, etc.).
PERSONAL INFO
Driver’s License or other official state identification.
Any Divorce, Palimony, Alimony documents.
Green card or work-permit (if/as applicable).