Checklist For Documents - ijaraCDC

Checklist For Documents

Items needed for: US CustomersCanadian CustomersGeneral Instructions for Submitting documents.

 

canstockphoto27483544  Items needed for US Customers

For Employed individuals that receive W-2 income the following items are needed:

  1. Last two year W-2’s and Federal Income Tax returns from all employment sources for all lessee’s (borrowers)
  2. Last two month paycheck stubs
  3. Last two month bank / investment statements
  4. Copy of ID and work authorization in US (passport, soc. sec. card, drivers license, visa, etc.)
  5. Copy of purchase agreement if available

For Self Employed or Individuals with some Self Employment income:

  1. Same items as above
  2. Last two year Federal Income Tax Returns for business and personal
  3. Last two month business bank statements
  4. CPA Letter

 

canstockphoto15512242  Items needed for Canadian Customers

For salaried and employed people:

  • Most recent employment letter (With in the last 30 days)
  • 3 or 4 most recent pay stubs
  • Min 3 month bank statements showing pay is being deposited there.
  • How much down payment and where it is?
  • if down payment is in RRSP’s or other investments, 3 months history of those deposits. Butif down payment is in a bank account, 3 months history.
  • If they have already bought the house, agreement of purchase and sale.
  • Last 2 years of Notices of Assessment and T4’s for last 2 years

Please note that min down payment is 5%.

For Self employed people/ business owners/ taxi drivers/ truck drivers or store owners:

  • 3 months self and business account statements
  • Last 2 years of T1 Generals for self
  • Last 2 years of statement business activities for the business
  • Last 2 years of Notices of Assessments
  • Copy of business licence (must be 2 years old ) — in some cases lenders make exceptions
  • If this is a corporation, copy of articles of incorporation.

Please note the minimum down payment is 10% for self employed.

 

canstockphoto27483544 canstockphoto15512242   General Instructions for submitting documents:

  • All pages of statements must be included if they have a page number, even if they are blank or have generic text, so if for example your bank statements have a generic printed back and your page numbers indicate that only pages 1,3,5 have your account info on them then you will have to copy the back of page 1 and 3 and include those pages also.
  • Whenever possible, please scan and email documents, if sending documents via mail, please do not staple and send only single sided copies.
  • It is always best to scan ID’s as many times faxing a copy of a drivers license makes the picture unviewable the the text hard to read.