What Paperwork Do I Need for My Application?
ID: You will need to supply a copy of an active Identification Card. This could be a state license, passport, or any government-issued laminated card that contains your picture. Why do we need this? We need to verify the person that has submitted the application is indeed the person that we have worked with. Another reason is landlord identification of tenants should they ever lock themselves out of a unit, or if they visit the unit to verify properly those listed on the lease.
Income Documentation: This can come in a variety of sources, most commonly a paystub. The many other options are noted below, and it can be a combination as well.
- Paystub – This should contain information on the period covered, YTD figures, and current net pay for the period. This may even be a pension statement as well.
- Social Security Award Letter – The annual letter will detail the monthly amount.
- Tax Returns – These are helpful for self employed or those with income not shown on a paystub. You may also own rental property that should appear on a Schedule E. These documents should have the social security numbers blacked out before sending them. Please take your document security as serious as we do.
- Voucher and Benefit Verification – If you receive housing and other assistance programs these should be provided for verification.
Credit Report: We ask for applicants to self-supply a credit report. There are systems that can be used, including the free annual reports. These must include your monthly minimum payments on all debt. Why do we need everything and don’t need a score? We base things on payment history and debt to income. Lack of a payment history is reviewed on a case by case basis. Debt to income ratio is something we don’t not provide exceptions to without sufficient assets to draw from. In case of high debt to income ratio where an applicant is asking for assets to be considered, bank statements must be provided for verification.