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Applying with Beeline
Everything you need to know about the application process.
What do I need to apply?
Do the 5 steps in 15 minutes, or break it up and pick up where you left off later. All information transferred is encrypted end-to-end and none of your credentials are stored or accessible to anyone. To enjoy the smoothest, fastest experience, this is what you’ll need at each step: Step 1 — Create profile: Nothing. Step 2 — Down payment: Login details or current balances for: Bank, savings or checking accounts. Plus any other asset or retirement accounts. **Step 3 — What you
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What do I need to apply the manual way?
Do the 5 steps in 15 minutes, or break it up and pick up where you left off later. All information transferred is encrypted end-to-end and none of your credentials are stored or accessible to anyone. To enjoy the smoothest, fastest experience, this is what you’ll need at each step: Step 1 — Create profile: Nothing. Step 2 — Down payment: Login details or current balances for: Bank, savings or checking accounts. Plus any other asset or retirement accounts. **Step 3 — What you m
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Can I use Beeline if I'm self-employed?
Yep! If you’re self-employed, the advantages of applying with Beeline are even greater because we’re able to collect your actual number instantly, saving you a ton of time compared with navigating a normal application. Instead of a long and onerous mission, in Step 3, we’ll specify what’s required, and it can be instantly collected by logging into your tax agent or manually uploading the docs. We even have a way to instantly collect them from the IRS, which is unbelievably easy, especially comp
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How much down payment do I need?
It’s a ‘how long is a piece of string?’ question, as it depends on the type of loan and the purchase price of your home — but here goes… The minimum you’ll need for a primary residence is at least 3% of the home’s purchase price for a down payment. For an investment property, you'll need a minimum of 20% down. Then for closing costs, work on a rough 2% to 3% of the purchase price. If you have those numbers, then you’re in the game.
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What is a Beeline Profile?
Your Beeline Profile is where all of your information lives. The beauty of having your Beeline profile is that if you ever want to refinance, get another loan with us or just pick it up again in a few months, all you need to do is refresh it. Sure beats starting from scratch!
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Does a human look at my bank transactions?
These transactions are collected, categorized and reviewed using technology we’ve developed unless something is incomplete, exceptional or unclear, when manual review may be required. Only in these cases will a human need to review your bank transaction history prior to getting a purchase or refi-ready approval.
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Where can I sign in to my Beeline profile?
On our site, just click the menu in the top right of the page to sign in.
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Will Beeline be sharing or selling my personal information?
When it comes to your sensitive information, we’re not messing around — our tech currently exceeds the minimum security industry requirements. Protecting your data and ensuring it’s only used for the purpose of your Beeline experience is taken very seriously. We use bank-level encryption, and are constantly monitoring our site to make sure it’s secure. We don’t sell your data or use it in any way other than covered in our Privacy Policy and Terms of Use. We’re GDPR, CCPA and PII compliant — GDPR
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Am I committed to Beeline when I get a purchase or refi-ready approval?
No — we don’t get all hot and heavy. A purchase or refi-ready approval is very accurate and gives you the certainty you need to know exactly where you stand and get what you want. Then once you’re clear, we can close in 14 days and your Loan Guide will help you every step of the way. If you’re not quite feeling it, take your time and refresh your profile later when you’re ready.
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Can I use Beeline if I’m applying with someone else?
Of course. It’s common to buy with a co-buyer. In Step 1, when you create your profile, you can add them — they’ll receive an email letting them know they’re on the application. Exciting times!
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I don't know how much I can afford, can I still get a purchase-ready approval?
Beeline allows you to explore and clarify your affordability and other questions without committing to the full exercise. Complete the 5 steps to get a result. Then if you’re not quite feeling it, take a few months, then refresh your profile when you’re ready. Early in the application, you can specify a price range and at the end we’ll tell you the size of the loan, the price of the house you can afford and the monthly payments. You can also play with our rate calculator to explore the terri
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Can I get a purchase or refi-ready approval even if I'm not sure I'm ready to proceed?
We encourage you to explore and do the 5 steps to see where you stand. Only then will you really know — a calculator is helpful but can only get you so far. Get your purchase or refi-ready approval, and then if you’re not quite feeling it, take your time and refresh your profile when you’re ready. If you refresh days or weeks after and you haven’t spent all your down payment on a new car or a trip to New Zealand, your approval won’t change much. If some big changes happen or several months
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Do I have to talk to someone or can I fly solo?
The entire Beeline experience, from applying to closing, can be done without talking to a single person. So if you’re a ‘lone loan wolf’, feel free — but most things are more fun in good company. The moment you submit your application, you’ll be paired with your dedicated Loan Guide, who navigates you from there all the way to closing day. They’re right by your side, directly contactable anytime you need them. So no retelling your story over and over after waiting on hold to some call centre.
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Do I have to apply in one session or can I stop and pick up where I left off later?
Do it all at once or break it up into a few sessions — it’s up to you. Your Beeline profile saves your progress. Even if you want to explore your outcome or maybe you’re not ready to buy or refi yet, you can complete the 5 steps, wait a few months until things fall into place, then refresh your profile when you’re ready to go.
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I get paid direct deposits with no pay stubs sent to me, what should I do?
If you get direct deposit, then there is a pay stub issued somewhere by your employer. It’s probably a feature provided by your payroll processor you haven’t accessed yet.
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What is ‘debt-to-income ratio’?
Debt-to-income ratio or DTI, is the ratio of your verifiable income that goes to housing expenses and liabilities listed on your credit report. The ratio does not take into account your living expenses like rent, utilities and car payments. You know, all the really fun stuff. For example — your home loan payment (including escrow) is $1500/mo, your car payment is $500 and you have a credit card with a minimum payment of $200. Your total payments (liabilities) equal $2200 per month. Your gross i
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How do I know how much homeowners insurance is?
Chat to an insurance agent — they’ll be able to give you an estimate for homeowners insurance. You can get a quote online or call a local agent. Local agents are usually a better source for a quote than online.
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How do I verify trust income?
We’ll need a copy of the trust showing the disbursement schedule, verification from the administrator for value of the trust, 2 years tax returns for history of receipt, and recent bank statements showing current receipt.
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Why should I give you my payroll login info?
The fastest and easiest way to get this information to us is to provide your credentials. This saves you a ton of time finding and manually uploading the requested information.
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Where do I find my tax, HOI, HOA and MI monthly payments?
Your home loan statement will give you a breakdown of taxes, insurance and mortgage insurance if you have it. You won’t see your HOA on your home loan statement — your HOA contact can provide this amount — usually by logging into your association website if you have one.
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What is my Beeline Tracker?
Once you’ve finished your application and received your Ready-Approval, you’ll be taken to your Beeline Tracker. Everything you need for the closing part of your journey lives in your tracker. For purchase customers, that includes that sweet, sweet Purchase-Ready Approval letter! You’ll use your tracker to choose and lock your loan, upload supporting info, add your property and generally just keep an eye on how things are progressing. You’ll use your tracker in tandem with your Loan Guide, w
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Why do you need 2 years' of residence history?
The loan guidelines we work with always request a 2-year history to help us determine any past home ownership. This helps us if people wish to ask about First Time Home Buyer programs.
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How does Plaid work?
Plaid is a behind the scenes service provider linking people to over 11,000 banks and financial institutions — the most popular is Venmo and services like them. Plaid links companies like Beeline to your financial institution. Plaid’s system only allows for viewing your information with no access to your accounts. They use bank-level security that ensures we never have access to your credentials.
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Who is PointServ and how do they work?
We use PointServ to verify your income — they source your pay stubs directly from your payroll processor so you don’t have to track them down. It’s a massive time saver. They use best in class methods to protect your information and review their security procedures regularly.
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How can I use estimated monthly rental income?
The loans we work with allow a portion of the rent to be counted towards income for new properties you are buying. Since we have to take into account potential vacancies in the properties, we can use 75% of the estimated monthly rental income as usable income.
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What do I need to verify my income?
If you’re not an owner and employed by someone else, please have the below available: **Payroll processor login details (Paychex, ADP etc.) **— We’ll automatically collect the required documents (2 years W-2s, pay stubs for your most recent 30 days of work) in seconds from your current payroll provider so you don’t have to worry about it later. Tax agent details (TurboTax, H&R Block etc.) — If required, we'll grab your last 2 years tax returns via your tax agent portal or we can grab i
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What do you mean by ‘am I a guarantor to any debt?’
That just means did you co-sign a loan for anyone? If you did, you are ultimately responsible for paying that debt if the main buyer defaults.
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Why do you need all the pages of my bank statement?
We ask for all pages to confirm we're providing a full review. If your statement shows ‘7 pages’ and we get 6, our auditors question what was on the missing page.
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I don't have my payroll processor login?
That’s cool — you can upload your documents manually by choosing the ‘Upload your documents’ option. You’ll need to supply 2 years worth of W-2s and pay stubs for your most recent 30 days of work.
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Why do you need to know the home loan balance and payment for my other property?
We ask this information to help us to figure out your debt-to-income ratio. This information is important to confirm that our loan is affordable for you.
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I don't have PDFs, just paper pay stubs? What should I do?
If you get pay stubs, then there is a pay stub issued somewhere by your employer. It’s probably a feature provided by your payroll processor that you haven’t accessed yet. If not, you can also scan your paper pay stubs and send that to us in PDF.
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How do I know when I’m approved?
Once your documents have been submitted for review, if everything is hunky dory, our reviewers will issue a Mortgage Commitment Letter. Yes, it’s a sucky, boring name but it signals exciting times! It means you’re as good as approved, sometimes just pending some final documents, title and appraisal.
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I've only been at my job a month, can I get a loan with Beeline?
It shouldn’t be a problem — as long as you can provide a work history for the two years prior, you’ll be fine. If this is your first job out of school and you’ve been studying for the past two years, let us know and we’ll see what we can do for you.
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Where do I enter shift differential, detail pay, overnight pay etc.?
You can enter it into the area that asks for an income breakdown. If you don’t see your area of income then forward the details to our Loan Guides and we’ll enter it for you--just use the live chat feature from our application to contact us.
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My bank isn’t there? What should I do?
Your best bet is to take the manual route — so you can just tell us what type of account you have, which bank it’s with and the current balance. You’ll notice an option to ‘add accounts manually’ whenever we ask you to link to a third party.
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Why do you need my bank's contact information?
We only ask in the rare instance that we need to verify account information. This will only happen if your bank does not provide you monthly statements or you can't retrieve that info online.
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What should I do if I live rent-free?
Put “0” in the rent field. We’ll ask for a letter from the homeowner to confirm you are rent-free, but we take care of that later in the process.
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I don't have a realtor. Does it matter?
Technically, you don’t need a realtor but geez, the good ones have a wealth of knowledge and experience that’ll definitely come in handy when you’re looking to buy. They know neighborhoods, home values and have experience negotiating sales contracts. Also, since realtors don’t charge buyers for their services, there’s no risk in hooking up with one. We’ve got a killer realtor program and can put you in touch with great realtors — and they’ll know you mean business because you’ll have a purchas
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Does Beeline lend in my state?
We’re currently licensed to operate in: Alabama Arkansas Arizona California Colorado Delaware District of Columbia Florida Georgia Illinois Indiana Iowa Kansas Kentucky Louisiana Maryland Massachusetts Michigan Mississippi North Carolina Ohio Oklahoma Pennsylvania Rhode Island South Carolina Tennessee Texas Virginia Wisconsin We're continually expanding into new states — stay tuned to find out when we’re in your state.
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How do I find out my tax agent?
If you have a copy of your returns, you’ll find your tax agent’s details on page 2 of the 1040. If you don’t have your returns handy, we also give you an option to access that info by linking directly to the IRS.
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I've lost my 4-digit code, can you send another one?
Sure — just click on the resend prompt and one should come straight to you.
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Why isn't my bank available to connect?
Some banks don’t have online access. But you can always enter the information manually — here’s what you’ll need.
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How do I know what type of property I have?
There are a bunch of different property types so here’s a quick guide on how to define yours. A ‘single-family’ is a stand-alone house (no shared spaces with other families). A ‘single-family home with neighborhood association’ is if you live in a single-family home and pay neighborhood dues or homeowner’s association dues. A ‘multi-family’ is a single building that accommodates more than one family living separately (for ex. a duplex). A ‘condo’ is a building with separate units that are in
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How much are the taxes on the home I’m interested in?
We won’t know for sure until we contact the tax assessor, but your realtor should be able to give you a pretty good estimate. If you’re looking for homes online, there should be an estimate for annual taxes on the listing. To figure out the monthly amount that would be added to your home loan payment, simply divide the annual amount by 12.
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What if I’m getting a raise soon?
Go you! We may be able to use that future income if the raise is documented and verified by your employer. Please let your Loan Guide know and we’ll try and verify it for you.
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I got an error in the application and can't proceed.
No worries — just click on the live chat feature at the bottom of the screen to instantly connect with someone who can talk you through it.
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What's earnest money?
Earnest money is funds you deposit with the realtor when you make an offer on a home. Typically, realtors ask for $1000 or more deposit when putting an offer on a home. If the offer is rejected, that’d be a bummer, but you get your deposit back.
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Can I mail or fax my account information to you?
You can, but in the interest of getting you a purchase-ready approval as fast as possible, we prefer to get information as you’re completing the application.
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Is it OK if I own the house with someone with bad credit?
That’s fine, but we’ll review their credit as well. Also, since the credit scoring is based on the lowest middle score of all borrowers, their credit may have an impact on the loan you’re offered.
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What’s a purchase and sales agreement?
It’s one of the most exciting parts of this whole buying a home thing! Sometimes called a Property Sale Agreement, it spells out the terms of the sale, along with the conditions that must be met for the sale to go through. It’s a binding legal document that states the final price for the house and the terms of the purchase, as agreed by the buyer and seller.
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Is it ok to apply for credit elsewhere during this process?
You can, but it’s definitely not recommended. New credit could negatively impact your debt-to-income ratio and disqualify you for the loan. Also, we monitor your credit during the loan process so any new debt opened will need to be documented with contracts/statements from the new credit. So it’s probably best to wait until after your loan is closed.
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What’s Plaid?
Plaid is a behind the scenes service provider linking people to over 11,000 banks and financial institutions — the most popular is Venmo and services like them. Plaid links companies like Beeline to your financial institution using bank-level encryption.
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Will you let me know if there is any delay or problem with the application?
Heck yes! If your loan hits any kind of speed hump, your Loan Guide will be in touch immediately.
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When I enter payroll/bank/tax login info your system won’t accept it, how do I proceed?
If you have a provider that doesn’t allow online access then you can easily just do it manually — here's a list of what you'll need.
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What’s a ‘lien’?
A lien is a claim or legal right against assets that are typically used as collateral to satisfy a debt. A lien could be established by a creditor or a legal judgment. A lien guarantees an underlying obligation, such as the repayment of a loan.
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I don’t have a 2-year work history, what do I do?
Please enter your current information and let us know what you were doing for the last 2 years, were you at school, unemployed etc.?
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What is a ‘judgment’ and how do I know if I have any outstanding ones?
A judgment is a lien filed against someone if the courts decide they owe someone money and haven’t paid. We run a search as part of your credit and if anything pops up, we’ll let you know.
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How do I know if I have a ‘clean energy lien’?
Does your home have solar panels? If not, you probably don’t have a clean energy lien. We’ll do a title search on your property to make sure we take into account all liens and will give you an update.
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Do I have to add all of my properties?
Yes please. To get the best understanding of your financial profile, we review all the payments you’re responsible for — that way, we can make you a solid and affordable offer.
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How do I know if I am eligible to get money from the realtor or the seller?
Well, you can never get money from a realtor, but the seller is allowed to offer you a credit towards your closing costs. If you have questions about that, chat to your realtor.
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How do I upload income information?
Make sure you have PDF copies of your pay stubs saved to your computer. Click on ‘Upload your documents’ and follow the directions. Go here for a list of what you’ll need.
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I am full-time now, but worked part-time at different places over the last 2 years, is that ok?
Sure! You’ll just need to show that 2-year job history.
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Some assets are in my partner's name. What should I do?
If it's a joint account, it’s ok if your partner's not on the loan. If the assets are in your partner's name only and they are not on the loan or the deed, then any funds for closing from them would be considered a gift.
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What's a seller concession?
Sometimes the seller agrees to pay a portion of the closing costs as an incentive to buy the home. Ask your realtor if the seller is offering any concessions.
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How can I see how much house I can afford?
You’ll give us a rough idea of how much you’re looking to borrow, and as soon as you’re purchase-ready we’ll let you know how much house you can buy. We can tell you if a payment is affordable based on lending guidelines, but the ultimate decision of affordability is up to you.
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I'm paid by check. How should I proceed?
Please provide the name and phone number of your employer and we can send them a form to fill out for all the information we’ll need. It’s a slower process but will accomplish the same goal.
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Why do you need to see my other property?
We need the other property information to help calculate your debt-to-income ratio. Plus we ask that info in case you're selling the home and using the proceeds for a new purchase or if you're renting the other home and need to show the income to qualify.
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What is considered ‘federal debt’?
Federal debt is any debt guaranteed personally by you — student loans, FHA, VA and USDA loans and some loans through the Small Business Administration all count as federal debt.
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Can I change my down payment later? If so what happens?
You can always change the amount of your down payment. We'll have to re-run the numbers to see how it affects your purchase-ready approval, but your Loan Guide can take you through the steps.
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What if I can't afford the appraisal?
Please contact your Loan Guide for help with this one.
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Do I need cancelled checks showing my future investment property is rented?
You don’t, once the estimated monthly rental income is used we base the loan from that number.
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How do I verify child support?
We’ll need a copy of the support order, birth certificates to confirm how long you’ll receive it, and 12 months of receipts, either through state records, bank statements or cancelled checks.
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If my bankruptcy was over 7 years ago, am I able to move forward with the loan?
For sure! We’ll just ask for an explanation for the bankruptcy and make sure the bankruptcy was discharged completely.
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How do I know if I have any outstanding judgments against me?
You can always check with your local circuit court or tax assessor — if you own property, these are the two best places to check. But if you’ve never been sued, you’re probably in the clear.
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How do you verify estimated monthly rental income?
Estimated monthly rental income is verified by the appraiser who researches average rental rates in your market.
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How do you secure my personal data?
When it comes to your sensitive information, we’re not messing around — our tech currently exceeds the minimum security industry requirements. Protecting your data and ensuring it’s only used for the purpose of your Beeline experience is taken very seriously. We use bank-level encryption, and are constantly monitoring our site to make sure it’s secure. We don’t sell your data or use it in any way other than covered in our Privacy Policy and Terms of Use. We’re GDPR, CCPA and PII compliant — GDPR
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Why might I be denied?
We always do our best to get you a great loan, but sometimes the timing just isn’t right. People may not qualify due to their income amount, asset amount, credit history or job history. We’ll let you know right away if we can’t get you approved and give you some guidance on what needs to happen to get you there in the future.
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I was approved for less than I need for the home I'm looking at, what now?
Now that you have a purchase-ready approval for a certain amount, you can either start searching in that price range or think about putting more money down at closing.
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Do I need a down payment to get a loan?
Yes, you’ll need a minimum of 3.5% of the purchase price as a down payment. If you need help, you may want to contact your local housing authority to see if they offer any programs to help with down payments.
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I don’t know the price range I’m searching for, how do I know how much I can afford?
Just enter the purchase price of a home you're looking at and as soon as you’re purchase-ready we’ll let you know how much house you can buy. We can tell you if a payment is affordable based on lending guidelines, but the ultimate decision of affordability is up to you.
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What if I can't remember the exact dates I started and finished?
Just your best estimate is fine — we can confirm dates later if needed.
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Why do you need to verify my income?
Well, we need to verify affordability and your ability to pay — we don’t ever want to put you in a position where your home loan payments get too much for you. And the best part about verifying it instantly, is that you won’t have to do it later and your purchase or refi-ready approval is spot on.
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Are there any fees if I don't move forward after completing the application?
No. Not at all. We encourage you to explore where you stand and take it at your own pace. Our Loan Guides aren’t commission-based and paid according to how fast and easily they close your loan. In other words, they’re paid to take the weight off your shoulders.
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What if I have two part-time jobs?
As long as you have a 2-year history at both jobs, this is fine. The federal guideline on part-time job income is for us to verify a 2-year work history.
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How do I verify pension income?
We request your last 2 years 1099s showing the amount you received, a pension verification letter showing the gross amount you receive, and the 2 most recent bank statements showing pension receipt.
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Do I need to show a future lease for estimated monthly rental income?
For an investment property purchase you do not, the appraiser will provide an estimate based on current rentals in your market.
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My company doesn’t use a payroll processor, what do I do?
We offer the opportunity to manually upload your pay stubs. Please use this feature if you don’t use a payroll provider.
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I've added some banks but not others. Does it matter?
If the accounts you've provided show sufficient assets then that's cool, you can add as many other accounts as you like though — the more you add, the better.
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What if I forgot my login to my tax agent?
Please use their ‘forgot username/password’ feature to reset your login info.
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What's the deal with a Refi-Ready Approval?
Basically, in just 5 steps done in 15 minutes, you'll have a Refi-Ready Approval. Take a look at this 40-second video to see how easy it is. A Refi-Ready approval in 15 minutes
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How will my down payment affect mortgage insurance?
If you have more than 20% down payment, you won’t have to pay mortgage insurance. The only exception is for FHA loans, where you have to pay mortgage insurance regardless of how much you put down.
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I work part-time at my job, can I still apply?
Sure! Part-timers just need to show a 2-year job history.
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What if I can’t rent the home for the estimated monthly income?
Since we base estimated rental income on the appraisers research we’re able to use that number. You’re not required to provide a future lease to verify income.
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Why do you need to know my income from my previous job?
It doesn’t have any impact on your application, but it does give us an idea of your earning history.
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Is it ok to apply for a home loan elsewhere during this process? How will that affect my chances of getting approved?
Sure, the credit system allows you to shop for the best loan option. It won’t affect your chances of getting approved with us, but we may ask for an explanation from you for the inquiry on your credit profile.
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I plan to rent out a room in the new house to a friend-can I use that income?
If the home is designated a multi-family by your town/county then yes we can use that income. If you rent a room in your house-which is great to help with monthly bills--we can’t use that as verifiable income.
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Some assets are in a trust name? What should I do?
If the assets aren’t needed to qualify, then leave them out. If you need them for the purchase, provide the info now and we'll confirm with you and the trustee that you can use these funds at will.
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If I foreclosed over 7 years ago, am I able to move forward with the loan?
For sure. We’ll just ask for an explanation for the foreclosure and make sure there are no outstanding monies owed for the foreclosed property.
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A friend does my tax and I have no agent. What do I do?
No problems, we also give you an option to access you tax info by linking directly to the IRS. Give that a shot.
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Do you have Spanish speaking Loan Guides?
Not yet — but you’re more than welcome to have a bilingual friend help you out.
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I don't get pay stubs for my job, they pay me in cash, can I use that?
You can only use that cash if it’s taxed and documented with the IRS.
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My bank accounts are outside of the US, how do I show my assets?
If you can link your account with our application we may be able to retrieve your banking information for you. If not, please follow the steps here.
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What if I’m getting a promotion soon?
Firstly, congratulations! We may be able to use that future income if the promotion is documented and verified by your employer. Please let your Loan Guide know and we’ll try and verify it for you.
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My bank says ‘info not available’ — what should I do?
Just follow the instructions for entering your information manually — here’s what you’ll need.
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I don’t remember my bank login info, what should I do?
The best thing to do is get in touch with your bank for a password reset, then just pick up the application where you left off.
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Why does it matter if I’m affiliated with the seller of the property?
We ask because there are different conditions for the loan if you are.
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My business returns show a loss, can I still get a loan with Beeline?
Please complete the application and submit your income info for review. There are many deductions for a business that can be excluded in our income calculation.
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I don’t want to provide my bank account information, how can I get a quote?
We ask for your bank account info to make sure we’re offering you a loan that you truly qualify for — that way you know your actual rate and payment amount upfront, and won’t get disappointed later. Some lenders throw out bait rates to draw you in and then when you enter your info, you don’t qualify. Ew.
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Can you mail me an application to complete?
We can’t actually mail you an application but we can screen share with you so we’ll be able to walk you through every step in real time.
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I have a new job that doesn’t start for another couple of months, can I use that?
If you have a contract or offer letter we can use that income as long as we can verify the offer with your employer.
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Can you approve your loans in-house?
Yes, all of our loans are originated, approved, closed and funded in-house. We are a fully centralized lender with all the experienced staff to get your loan closed. And closed fast!
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I don’t understand ‘a lien that could take priority over the first mortgage lien’ — what does this mean?
This refers to any loans or HOA fees (usually) that take a priority over your first mortgage. Basically it has to do with how liens are recorded with your town/county. A first mortgage must be in ‘first’ position. Sometimes unpaid HOA fees have the right to take over first position if the HOA forecloses for unpaid HOA dues, it’s not common but something we have to verify.
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What if I don't know the estimated value?
If you’re not confident of your home’s value, you can always look at your property tax bill and provide the assessor's value — that’s a good place to start.
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Why do you need to know how long I have lived at my current residence?
The loan guidelines we work with always request a 2-year history to help us determine any past home ownership. This helps us if people wish to ask about First Time Home Buyer programs.
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Do I have to include my taxes and insurance in my payment?
Some loans require it, and for some it’s an option. Your Loan Guide can give you all the details for your specific loan.
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Why do you need all my assets, not just my down payment amount?
We ask this because some loans like to see additional assets after a purchase. We don't always need to show them, but it's easier to get all the info in one shot rather than have to come back and ask for them later if we need them.
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Why do you need to know about something that happened so long ago?
We ask for info over the last 7 years because that’s what the federal guidelines tell us to ask for. On our end, review someone’s entire profile to make sure a loan is affordable. If someone had a foreclosure or bankruptcy in the last 7 years, we want to see how you’ve managed your finances since then to make sure we’re putting you in a good position with an affordable loan.
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What’s gross monthly income?
Gross monthly income is the amount of income you get from your job before any deductions are taken out.
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Do I have to apply online?
Yep — and you could have a purchase or refi-ready approval in just 15 minutes.
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Why do you need my employer's contact information?
We get in touch with your employers just to double-check your employment info.
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My investment statement is over 25 pages, do you need them all?
Yes please, we need to confirm all noted pages are included for our review.
Few readers
You ask for gross monthly income, which I entered, then the next question asks if I get commission. My income is all commission, what should
It’s fine for your gross monthly income to be entirely commission. So, when we ask you what the breakdown for your gross monthly income is, simply put the entire amount in commission.
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My bank doesn’t offer online banking, how do I get info to you?
Just follow the instructions for entering your information manually — here’s what you’ll need.
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Why do you need my tax returns for my job income? Isn’t that on my pay stubs and W-2s?
Even though your job info is on your pay stubs and W-2s, many loan programs require tax returns for verification as well. It’s faster to get this info right up front rather than have to ask you later for it, if it’s needed.
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What is ‘estimated monthly rental income’?
Estimated monthly rental income is what the market considers fair and average rent for similar properties in your market. If every similar property rents for $1500 per month, then estimating your rent at $2000 per month isn’t considered reasonable.
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Can I qualify using the estimated monthly rental income?
You can in most instances, if you’re buying an investment property.
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I'm part-owner of a company but I don't get corporate tax returns, what do I do?
If you own less than 25% of a company, we don't need the tax returns. We only request the K-1 form the business sends you showing income/loss and ownership percentage.
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How do I verify alimony support?
We’ll need your divorce decree, support order and proof of twelve months of receipt. We verify the receipt with cancelled checks or bank statements, your Loan Guide will help with this.
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