Lease / Rental Agreement

A customer may be requested to provide a document stating the terms of a lease agreement in transactions in which a departure residence is being converted into a rental property, or when rental income from a property other than the one being bought is used to qualify for a loan.
For departure residences, the following documents may be requested:
  • A copy of the fully executed lease/rental agreement
  • Receipt of a security deposit from the tenant and verification of the deposit into the customer’s account
  • Three months of cancelled checks or bank statements verifying receipt of rental income
For rental properties, the following may be requested:
  • For a property owned for at least 12 months, the most recent complete personal tax return (1040) including Schedule E
  • For a property owned less than 12 months and not reflected on the most recent, filed federal individual tax returns, the current lease agreement(s)
To avoid delays in processing your loan, please:
  • Make sure the copies you send are legible.
  • Do not include documents that have been altered with correction fluid or by other means.
  • Submitthe entire requested document and include all pages (even blank ones).