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Can anyone tell me if I can use a signed lease and bank deposit records as proof of income to refi?

by kurt15mac78 from Elburn, Illinois. Jun 13th 2017 Reply


Barclay Butler (Barclay)
#85 ranked lender in Illinois - 67 contributions

Are you refinancing an investment property or owner occupied. Barclay Butler. 224-420-9990. bbutler@barclaybutlerfinancial.com

Jun 13th 2017
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Sara Deere (Saraloveshomeloans)
#1 ranked lender in Kansas - 516 contributions

If you provide the basic supporting documents, it gives the lender a better understanding of how you pay your bills. Most refinance programs require at least one government ID, 2 months of pay stubs, 2 most recent months of banks statements, 2 years of Federal tax returns and W2s or 1099s connected to the submitted Federal tax returns, homeowner's insurance information, current land lord information. You can directly apply at my website: www.saradeere.leader1.com.

Jun 13th 2017
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William J Acres (William_Acres)
#1 ranked lender in Arizona - 8,055 contributions

More info needed, but if you are asking about proving "Rental" income, then unless you purchased the property on or after January 1st, 2017, you will need to provide your tax returns including a Schedule E, which will show the rental income.. if you do not claim the rental income on your taxes, then for loan purposes, it does not exist.. however, all your costs associated with that property (taxes, insurance, mortgage payment, etc..) must be included in your debt ratios. If you purchased the property after Jan 1, 2017, and it was purchased as a rental, then we can use the rental agreement and your most recent 6 months bank statements to verify you are receiving the rent. I could go on, but there are literally so many different scenarios, that's it's impossible to advise you on all of them.. For this reason, it's best you call a local mortgage professional, and let them look at your complete loan profile.. only then will you know what's valid or not.. I'm a preferred Lender with Arizona and California being my primary markets. If you or someone you know is looking for financing options, feel free to contact me or pass along my information. 480-287-5714 WilliamAcres.com NMLS# 226347 / RPM Mortgage NMLS 1541014 / AZMB0121893

Jun 13th 2017
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Yes.

Jun 15th 2017
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