Loan Stipulations:
Our loan stipulations may vary
depending upon several factors
including the type of loan you need,
your credit history and the amount
of equity in the collateral, but in
general terms our stipulations are
as follows:
-
A
minimum of six (6) months in
current job and no more than two
(2) jobs in the last two (2)
years.
-
Minimum time in residence of six
(6) months and no more that two
(2) residences in the last two
(2) years.
-
Minimum gross monthly income of
$1,500.00.
-
Maximum total monthly debt
payments (including child
support payments) to the
net
after tax take home income per
month of 50%.
-
Maximum loan payment to net take
home income per month of 15%
(excluding first mortgage
loans).
-
Total past due amounts no more
than one (1) month of gross
income and/or total open
judgments of no more than one
(1) month of gross income.
-
No
previous repossessions of
vehicles or foreclosures of real
estate. Bankruptcies must be
discharged.
Required Closing Documents:
Documentation needed at the time of
closing includes, but is not limited
to, the following:
-
State of Indiana issued drivers
license
-
Proof of income (last two pay
stubs and/or written
verification of other income)
-
Proof of insurance (if the loan
will be secured by real estate
or vehicle)
-
Most recent
home phone and/or cell
phone bill
-
Most recent bank
statement
-
List
of six (6) personal references
(including name, address, and
phone number)
