INCOME / EMPLOYMENT VERIFICATION REQUIREMENTS

• VOE(s) covering the past 2 years of work history should also include year-to-date and last year’s earnings

• pay stub(s) or salary voucher(s) for the most recent 30-day pay period with year-to-date earnings indicated, AND
• IRS W-2 forms for the previous year.

• 2 years of signed tax returns and schedules, if 25% or more of a borrower’s qualifying income is based on commission

• 2 years of signed, personal tax returns with schedules
• corporate or S-Corp returns, if the borrower owns a 25% or greater interest in the corporation
• partnership returns, if the borrower owns a 25% or greater interest in the partnership
• current and year-to-date income and financial statements, if the loan application is dated more than 120 days after the end of the tax year for the business

• a 12-month history verified by the employer

• a minimum 2-year history verified by the employer

• the previous 2 years of signed tax returns and all applicable schedules
• pay stub(s) or salary voucher(s) for the most recent 30-day pay period with year-to-date earnings indicated.

• must be explained in a letter from the borrower

• a VOD showing the average balance for past 2 months listed on the loan application; if not, attach last 2 monthly statements. Include explanations of any significant changes in account balances or any recently opened accounts.

• 2 months of depository institution statements. These must, at a minimum, report the ending balances and all deposits and withdrawals.

• (if applicable) must be completed in full, stating that no repayment is necessary, and include the donor’s signature

• must be confirmed by the person managing the pool savings and the depository where funds are kept