Five Items Buyers Need to Prepare
- Net Worth and Income Statement – a document that lists Assets (like bank/investment/retirement account balances), Liabilities (credit card/loan balances etc.) and annual income of each applicant. Section of our Offer Form provides fields for the Net Worth and Income Statement as well.
- Most Recent 2 Years Tax Returns – most board packages require tax returns
- Most Recent 2 Years W2’s and Most Recent 30 Days Pay Stubs – applicable only if you are employed by a company, self employed individuals must only provide tax returns.
- Most Recent 3 Months Bank, Investment and Retirement Account Statements – a buyer is not required to disclose all assets to the lender or the coop, but the down payment and required reserves must be sourced by an account statement.
- Valid form of Picture ID – Passports, State issues ID’s are considered valid forms of identification.
- NOT REQUIRED ON SUBMISSION but can prove to be very helpful in the buying process is a current copy of Credit Report.