W2 borrowers are required to submit these documents through Arive’s secure portal then transferred to  Dropbox and store in folders by year and borrower’s last name.  Lenders typically require thorough documentation to assess your financial stability and creditworthiness. Here’s a list of documents you’ll likely need to submit:

1.    Proof of Identity:

•     Valid government-issued identification, such as a driver’s license or passport,

•     Copy of your Social Security Card

2.    Proof of Income:

W-2 Forms for the past two years

3.    Pay Stubs:

Your most recent pay stubs covering at least one month, typically the most recent 30 days.

4.    Employment Verification:

Lenders contact your employer to verify your employment status and income.

5.    Tax Documents:

Federal tax returns (Form 1040) for the past two years, including all schedules and attachments, IRS Form 4506-T

A signed Request for Transcript of Tax Return form, allowing the lender to obtain a transcript of your tax returns directly from the IRS.

6. Bank Statements:

•     Checking and Savings Account Statements for your checking and savings accounts for the past two to three months that will be used to verify funds to close, income, and debts. Be prepared to explain any large deposits.

•     Asset Statements: If you have other assets, such as investments or retirement accounts,

provide statements for those as well.

7. Employment History:

Complete history of your employment for the past two years, including job titles, employers, and addresses.

8. Credit Information:

Lenders will obtain a credit report as part of the application process, but you should review your credit report in advance to check for errors or discrepancies. Disputing credit entries on your credit report does not help your credit score. Credit Explanation: Be prepared to explain any significant changes in your credit history

or any derogatory items.

9. Debt Information:

Outstanding Debts: A list of your current outstanding debts, including credit cards, car loans, student loans, and other liabilities.

Alimony or Child Support: If applicable, provide documentation for alimony or child

support payments.

10. Proof of Assets:

Gift Letters: If you receive a gift from a relative or friend to cover part of your down payment, you’ll need a gift letter from the donor confirming the funds are a gift and not a loan.

Bank Statements: Statements for any accounts where you’re holding funds for the down

payment and closing costs.

11. Property Information: If you’ve already chosen a property, provide details about it, including the address, purchase price, and a copy of the purchase agreement (if available).

12. Additional Documents: Lenders may request additional documentation based on your specific financial situation or the loan program you’re applying for. Always be prepared to provide any additional documents requested by your lender.