Documentation Requirements

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Full Doc
Required to Disclose
  • Complete Loan Application – Including Income & Employment.
  • Credit Report (Cannot be older than 30 days from Submission date)
  • Form W-2 (most recent 2 years)
  • Tax Return (if applicable, most recent Personal or Business)
  • Borrowers’ ID (Passport or Driver License).
  • Purchase Contract (if applicable)
  • Submission Form Completed. Click here
  • Product and Pricing Form. Click here
Required to Underwrite (in addition to above)
  • Most recent W2 for 1 or 2 years + most recent paystubs covering at least 30 days AND/OR 1 or 2 years of tax returns.
  • Appraisal Transfer (Click here for NewPoint’s Transfer Policy)

Bank Statement
Required to Disclose
  • Complete Loan Application – Including Income & Employment.
  • Credit Report (Cannot be older than 30 days from Submission date)
  • Borrowers’ ID (Passport or Driver License).
  • Purchase Contract (if applicable)
  • Submission Form Completed. Click here
  • Product and Pricing Form. Click here
Required to Underwrite (in addition to above)
  • 12/24 months of bank statements (Personal or Business, all months, all pages)
  • Income calculation. (Click here for submitting bank statements)
  • Appraisal Transfer (Click here for NewPoint’s Transfer Policy)

P&L Only
Required to Disclose
  • Complete Loan Application – Including Income & Employment.
  • Credit Report (Cannot be older than 30 days from Submission date)
  • Borrowers’ ID (Passport or Driver License).
  • Purchase Contract (if applicable)
  • Submission Form Completed. Click here
  • Product and Pricing Form. Click here
Required to Underwrite (in addition to above)
  • 12/24 months P&L on company stationary prepared and signed by a CPA, CTEC or Enrolled Agent
  • Appraisal Transfer (Click here for NewPoint’s Transfer Policy)
We will condition for:

Signed letter from CPA/Tax Preparer confirming that they prepared the borrowers most recent tax returns. letter needs to include the nature of the business, % of ownership, and the date established

ITIN
Required to Disclose
  • Complete Loan Application – Including Income & Employment.
  • Credit Report (Cannot be older than 30 days from Submission date)
  • Borrowers’ ID (Passport or Driver License)
  • ITIN confirmatioon letter from the IRS
  • Purchase Contract (if applicable)
  • Submission Form Completed. Click here
  • Product and Pricing Form. Click here
Required to Underwrite (in addition to above)
  • IRS Form 1099 documenting income.
  • Appraisal Transfer (Click here for NewPoint’s Transfer Policy)

Foreign National
Required to Disclose
  • Complete Loan Application – DO NOT include income & employment information.
  • Unexpired Passport
  • Purchase Contract (if applicable)
  • Submission Form Completed. Click here
  • Product and Pricing Form. Click here
Required to Underwrite (in addition to above)
  • Copy of lease agreement(s) (if applicable)
  • Appraisal Transfer (Click here for NewPoint’s Transfer Policy)

Stand Alone 2nd Lien
Required to Disclose
  • Complete Loan Application – Including Income, Employment, & 1st Lien Info
  • Credit Report (Cannot be older than 30 days from Submission date)
  • Borrowers’ ID (Passport or Driver License).
  • Purchase Contract (if applicable)
  • Submission Form Completed. Click here
  • Product and Pricing Form. Click here
  • Copy of 1st Lien Mortgage Statement (**DSCR 2nd Loans Only)
  • Copy of 1st Lien Mortgage Note (**DSCR 2nd Loans Only)
Required to Underwrite (in addition to above)
  • Income documents corresponding with the qualifying income type.
  • Appraisal Transfer (Click here for NewPoint’s Transfer Policy)

DSCR (1-4 Residential Units)
Required to Disclose
  • Complete Loan Application – DO NOT include Income & Employment.
  • Credit Report (Cannot be older than 30 days from Submission date)
  • Borrowers’ ID (Passport or Driver License).
  • Purchase Contract (if applicable)
  • Submission Form Completed. Click here
  • Product and Pricing Form. Click here
Required to Underwrite (in addition to above)
  • Copy of lease agreement(s) (if applicable)
  • Rent Schedule with expected market rent to calculate DSCR ratio
  • Appraisal Transfer (Click here for NewPoint’s Transfer Policy)
  • Subject property’s current tax bill and current insurance declaration page (**DSCR Loans Only)

DSCR (5-8 Residential Units & 2-8 Mixed Use)
Required to Disclose
  • Complete Loan Application – DO NOT include Income & Employment.
  • Credit Report (Cannot be older than 30 days from Submission date)
  • Borrowers’ ID (Passport or Driver License).
  • Purchase Contract (if applicable)
  • Submission Form Completed. Click here
  • Product and Pricing Form. Click here
Required to Underwrite (in addition to above)
  • Copy of lease agreement(s) (if applicable)
  • Rent Schedule with expected market rent to calculate DSCR ratio
  • Appraisal Transfer (Click here for NewPoint’s Transfer Policy)
  • Subject property’s current tax bill and current insurance declaration page (**DSCR Loans Only)