• Approval process issues – Road blocks

  • The approval process isn’t difficult as long as your paying attention to the details. Here are what we see underwriters question everyday.

    • Internet printouts in place of actual bank statements: These often to not show account numbers and names
    • We need all pages of statements (Yes, including the irrelevant last page)
    • Large, non-payroll deposits need to be explained and documented (Such as a $500 savings deposit)
    • Earnest money deposits must clear your account to get credit at closing – Be sure your realtor deposits your check ASAP to expedite clearing your account
    • Include ALL schedules & pages when providing tax returns (Not just first 2 pages of 1040)
    • Page 2 of 1040 needs to be signed
    • Be sure your drivers license is NOT expired!
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