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Program Requirements

Sierra Lending Group LLC Document Check List.

The following documents will be needed for full credit approval:


1. Fully completed and signed initial 1003. Please make sure to provide all assets and liabilities; make sure all HMDA information and declarations sections are completed.
2. Mortgage brokers must identify what Sierra lending Group LLC loan program the file is being submitted under
3. Signed Borrowers authorization form
4. Email address and other contact information for borrowers

Credit Report

1. Credit report, if available. We have instructions on how to order credit from Mexico. We can order credit reports from Canada directly. Other countries on a case by case basis.
2. Alternate credit letters, if no formal US credit is available. Letters can come from bank relationships or other direct creditors. Need at least 2 alternate sources of credit
3. OFAC Check – Sierra Lending Group will order an OFAC check on the borrowers and other entities as needed.

Income Documentation

1. Verification of Employment if employee of company. Should reflect last two years of income.
2. Employment letters (for employees being transferred to US company positions)
3. Two most recent months of paystubs showing year to date earnings (make sure to identify the currency the borrower is paid)
4. Last two years of W-2 form (or equivalent)
5. Housing allowances, etc. paid by company – provide letter from company identifying what allowances are being paid (and how much) by company and for how long.
6. Signed 4506T – We will require transcripts from the IRS for self-employed borrowers, borrowers with unusual income, and TAX ID borrowers

Self-employed borrowers:

a. Last two years of personal tax returns (all pages) ; Last two years of corporate tax returns if incorporated (or the equivalent from the country of origin)
b. Year to date profit and loss statement
c. Incorporation papers and By-laws (or the equivalent from the country of origin). Should reflect ownership of companies
d. Proof of business registration
e. CPA or Accountant letter identifying borrowers income
f. Last 24 months of bank statements (if needed)

Assets and Deposits; Source of Down payment

1. Last three months of personal bank statements, all pages for all accounts, foreign and domestic) Please sure to identify the currency the deposit values are in
2. Most recent account statements for retirement, investment or other types of accounts.
3. Other sources of down payment including:
a. Cash at home – must be listed on initial 1003. These funds will need to be deposited and verified prior to closing.
b. Gift – Gift letter will be needed along with documentation verifying the donor has the fund for the gift.
c. Funds transferred from borrower’s company – must obtain bank statements for business accounts and letter from CPA/Accountant that confirms use of the business funds will not have a negative effect on the company.
d. Company paid or reimbursed expenses – must provide a letter from the company identifying what expense are paid/reimbursed by company and when funds are paid.
e. Sale of asset – provide proof of sale of asset and verification of funds received and deposited into borrower’s account.

Borrowers Government Identification Forms (Photo ID MUST be Current). We will accept the following forms of photo ID.

If borrowers have a social security number or TAX ID number, we will need copies of their social security card or TAX ID card or letter.

1. Borrowers US drivers license (if available)
2. Copy of passport (US or foreign) 3. Copy of US VISA (if necessary)
4. Copy of foreign issued identity form including Matricula Card, foreign drivers license, etc.
5. Copy of US social security card (if available)
6. Copy of borrower’s TAX ID (ITIN) card or letter from IRS.

Other Documentation

1. Explanation letters for credit issues
2. Explanation letter for reason why borrower is purchasing here (this is for borrowers purchasing second homes, particularly foreign national buyers)
3. Explanation letter describing nature of business (if needed)
4. Other documentation as needed or requested by credit committee, title company, or attorneys office

Property and Appraisal

1. Earnest Money contract – if one has been executed – for full submission, all pages and addendums. Final contract must be fully executed by all parties
2. Contact information for appraiser to make appointments to see property
3. Any other relevant information regarding the property once a check is received.
4. Check for appraisal when requested – we will order the appraisal. Normal appraisal check is $375. For larger loan amounts, out of town appraisals, or unusual or non-SFR properties, a higher amount for the appraisal may be required and will need to be collected.
5. Complete Condo documents and By-Laws (if necessary)
6. Flood Cert – Sierra Lending Group will order the flood cert.

Title Company and Hazard Insurance Information

1. Title commitment (*)
2. Tax Cert
3. Insured closing letter (*)
4. Survey (we will accept an existing survey if there have been no additions to the property and the survey is acceptable to the title company)
5. Wiring Instructions
6. All contact information for the title company including the name of the closer, email address, physical address of the title company, phone and fax numbers
7. Evidence of hazard insurance including a dec page (*)
8. Flood insurance (*) if required – we will request a flood cert once the loan has been approved
9. Copy of Condo Insurance (*)

Sierra Lending Group LLC, its successors and/or assigns
5005 Riverway Suite 460
Houston, Texas 77056
Loan Number:


1. Copy of signed disclosures issued by the mortgage broker. Should be consistent with disclosures issued by Sierra Lending Group LLC.
2. Copy of our disclosures signed by all borrowers

Document Delivery:

Via email to info@groupsierra.com
2. Via Mail or delivery:
Sierra Lending Group LLC
5005 Riverway Suite 460 or
Houston, Texas 77056
3. Via Fax: (888) 342-6101

Sierra Lending Group LLC

Explanation for Mortgage Brokers:


    Adjustment caps for our 5/1 ARM's are 1/6 (After the five year fixed period the rate cannot rise more than 1 point annually and no more than 6 points over the life of the loan. The margin for a start rate of 5.50% is 2.25%. (The rate and the margin could be higher or lower depending on the loan but 2.25% is the normal margin). The floor is the start rate (In this case the floor would be 5.50%.). We use the Wall Street Journal Prime Rate Index Mortgage Broker premium is paid as broker/origination fee. Loans are closed under Sierra Lending Group. Mortgage broker discloses and sends package to Siera Lending Group LLC were we redisclose.

    Sierra Lending Group LLC

    Loan Application Required Documents in Brief.

    Valid government ID / Passport.

    CONTRACT: Purchase Contract.

    Credit report (USA, Mexico, Canada).
    Other countries (3 credit references).

    Employed: Employer letter.
    Prior 2 months pay stubs.
    Last 2 years personal tax returns (W2)

    Independent: Corporation documents.
    Company balance sheet (Last 2 years and from January up to date ).
    Last 2 years 1099.

    LIQUIDITY: Last 3 months of bank statements. (All pages)

    Sierra Lending Group LLC (Spanish Version)

    Documentos Basicos Requeridos para Aplicacion Hipotecaria:

    Pasaporte y Visa vigente.

    Contrato de Compra Venta.

    Buro de credito indicando puntaje (USA, Mexico, Canada).
    Otros paises (3 Referencias Crediticias).

    Empleado: Carta del empleador.
    Recibos de nomina recientes (Ultimos 2 meses).

    Empresario: Acta constitutiva de la empresa.
    Estado de resultados ultimos 2 ańos y de Enero a la fecha.

    Ultimos 3 meses de estados de cuentas bancarios (Todas las paginas).

    Sierra Lending Group LLC

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