Not a day goes by when our Customer Care representatives aren’t asked by potential condo buyers “I’ve seen your company’s name and was wondering how to get started?”

At OwnACondo.com, we’re eager to get to work for you right away, helping you through the process of selecting and buying the condo you’ve been dreaming about.

One of the first steps we recommend is contacting a lending professional who can help you take stock of your personal financial situation and provide you with a pre-approval. This important element shows condo sellers that you are serious and able to make a purchase if you choose.

Documentation varies by lender, but in general, here is a basic checklist of documentation needed to get your financing application started:

The Property

• Copy of signed sales contract including all riders
• Names, addresses and telephone numbers of all Realtors©, insurance agents and attorneys involved
• Proof of the deposit you placed on the condominium
• Copy of the Multiple Listing Service (MLS) Listing Sheet and legal description, if available
• Condominium declaration, by-laws and most recent budget

Your Income

• Copies of your pay stubs for the most recent 30-day period and year-to-date
• Copies of your W-2 forms for the past two years
• Names and addresses of all employers for the last two years
• Letter explaining any gaps in employment during the past two years
• Copy of front and back of work visa or green card, if applicable

If self-employed or receiving commission or bonus, interest/dividends, or rental income:

• Provide full tax returns for the last two years PLUS year-to-date Profit and Loss statement (please provide complete tax return including attached schedules and statements. If you have filed an extension, please supply a copy of the extension.)
• K-1's for all partnerships and S-Corporations for the last two years (double-check your return. Most K-1's are not attached to the 1040.)
• Completed and signed Federal Partnership (1065) and/or Corporate Income Tax Returns (1120) including all schedules, statements and addenda for the last two years (required only if your ownership position is 25% or greater.)

If you will use Alimony or Child Support to qualify:

• Provide divorce decree/court order stating the amount, as well as proof of receipt of funds for the last year

If you receive Social Security income, Disability or VA benefits:

• Provide award letter from agency or organization

Source of Funds and Down Payment

• Sale of your existing home: provide a copy of the signed sales contract on your current residence and statement or listing agreement if unsold (at closing, you must also provide a settlement/closing statement)
• Savings, checking or money market funds: provide copies of bank statements for the last three months
• Stocks and bonds: provide copies of your statement from your broker or copies of certificates
• Gifts: if part of your cash to close, provide Gift Affidavit and proof of receipt of funds
• Based on information appearing on your application and/or your credit report, you may be required to submit additional documentation

Debt or Obligations

• Prepare a list of all names, addresses, account numbers, balances, and monthly payments for all current debts with copies of the last three monthly statements
• Include all names, addresses, account numbers, balances, and monthly payments for mortgage holders and/or landlords for the last two years
• If you are paying alimony or child support, include marital settlement/court order stating the terms of the obligation

Check or money order to cover application fee(s)