BORROWER CHECKLIST
What is title insurance? Insures against financial loss from
DOWNPAYMENT OPTIONS Checking/Savings/Money Market Account - Liquid
defects in title to the property. It’s
Gift funds - Must be a gift that doesn’t have to be paid back
a policy that insures you won’t
Borrow against 401K
have any unknown claims made
Close out CD
to the ownership of your home.
Cash out stocks or bonds Cash? No mattress money allowed
Explain “escrow” WE HAVE TO SOURCE ALL FUNDS Unaffiliated 3rd party that receives and disburses money, documents and instructions between two parties.
Cash out stocks or bonds Cash? No mattress money allowed
CLOSING COSTS & PREPAIDS Origination Fee Appraisal Title Fees Title Insurance Taxes Homeowners Insurance Recording Fees
Synergy One Lending, Inc. | NMLS # 1907235
BORROWER CHECKLIST
INCOME DOCUMENTATION (W2 Employee) Most Recent 2 Years of Tax Returns 2 Years of W2s 2 Pay Stubs (Most Recent)
SCHEDULE OF REAL ESTATE (Please provide information for all properties currently owned)
ASSET DOCUMENTATION 2 Most Recent Bank Statements - All Pages of All Accounts (Borrower and Co-Borrower) 2 Most Recent Investment Account Statements (Borrower and Co-Borrower)
IF APPLICABLE DD214 (If Using VA Loan)
Recent Mortgage Statement for Current Residence
Bankruptcy Discharge Papers (All Pages)
Copy of Your Homeowners’ Insurance
Gift Letter/Gift Documentation
Recent Property Tax Bill
Divorce Decree or Legal Separation Agreement, Including Child Support Agreement Documents
Property Lease (If Rented w/2 Year Landlord History) HOA Information (Monthly Payments)
Preston Luckett Senior Loan Officer NMLS #265996
P (303) 905-3091 E pluckett@S1L.com Synergy One Lending, Inc., NMLS 1907235. 3131 Camino Del Rio N 150, San Diego, CA 92108. Toll Free #: (888) 995-1256. Synergy One Lending, Inc. is licensed in the following states: CO. All Loans are Subject to Credit and Property Approval. Equal Housing Lender. www.nmlsconsumeraccess.org