When applying for home financing, documentation may be required to verify the income and assets stated on the application. The documentation needed to supply Old Second depends on several factors, which may include:

• Whether you're a salaried employee or self-employed
• The equity position you'll have in your home
• Your credit history

When you receive a loan approval we'll tell you what income and asset documentation is needed to close your loan. We'll ask you to fax or mail your documents to Old Second within 48 hours after you receive an approval so that we can move quickly to set up your closing.

Salaried employees usually provide the following documents:

1. Most recent pay stub for all borrowers showing year-to-date earnings.


2. 1 year of W-2 forms for all borrowers from all employers.


3. Most recent credit union, bank or brokerage statements verifying assets.

Self-employed borrowers usually provide:

1. Most recent 2 years of personal tax returns, all schedules.


2. Most recent 2 years of business tax returns, all schedules.


3. Most recent 2 months of credit union, bank or brokerage statements verifying assets required to close the loan.

Borrowers relying on other sources of income for their monthly obligations will be asked to supply the appropriate documentation to support the loan request.

When purchasing a home you will need to provide Old Second with a signed purchase contract. If we need additional documentation, we'll let you know what we need and why it is needed.