Financing Requirements

To obtain financing for a property, borrowers have to provide a fair amount of documentation.  Due to stricter financing guidelines by Fannie Mae and Freddie Mac, it is more difficult to obtain financing today than in years past.  Requiring more information to support income and assets, allows lenders to assure themselves that the loans they are providing will be paid back over the course of the loan.

Common documents that are required to purchase a property:

  • 2 months consecutive paystubs
  • 2 months consecutive bank statements containing deposits that can be sourced, either by payroll, or by a paper trail (canceled checks)
  • 2 years of W2’s
  •  K1’s & Tax returns  (if self-employed)

Each borrower is different, and because of this, the required documentation will vary from one loan to the next.

Mortgage Loan  Programs

  • 30 Year Fixed
  • 15 Year Fixed
  • 3/1,  5/1, 7/1, 10/1 ARM
  • As low as  3.5 % down payment Programs available through FHA
  • As low as 3% down payment Programs available through MA Housing

If you have additional questions about the process of application or would like to be pre-approved, please contact us at (508) 990-1081 or email and we will refer you to our recommended Loan Officer.