Documents Required
In order to submit your file for a pre-approval, please send us:
- Signed Mortgage Application with a Personal Financial Statement (1003 Accepted)
- Credit report within 30 days (or a signed PSB General Authorization)
- PSB Submission Form
In order to submit your file for closing, please send in all of the following that are applicable to your file.
Application- Fully completed and signed application
- Signed Personal Financial Statement
- Signed general authorization / and disclosures
- Payment of $299 Investigative fee
- Credit card authorization for payment of appraisal
- Signed ACH form with voided check
- 2 Years Personal Tax Returns
- 2 Years Business Tax Returns
- 12 Months Personal Bank Statements (Reduced Doc, in lieu of Tax Returns)
- Recent Pay Stub (Within 30 days of closing)
- Leases on subject property
- 1 Months Bank Statements showing sufficient funds to close
- Borrower required to open accounts with Public Savings Bank
- Fully Executed Agreement of Sale, must be current
- Canceled check or escrow letter showing Deposit
- Title (to be ordered by PSB) Clear title, CPL & Proposed Deed
- Appraisal to be ordered by PSB
- City Certification
- Phase 1 Environmental certificate
- Hazard Insurance for minimum of loan amount with 12 months loss of rent coverage
- Invoice or paid receipt for Hazard insurance showing coverage for 1 year
- Articles of incorporation
- Operating agreement
- Proof of EIN Number
- Corporate resolution showing
- Certificate of Good Standing
- PSB Credit report within 30 days of closing with minimum average credit score of 640
- Verification of rent / mortgage showing no more than 1 X 30 in the past 12 months
- Detailed rehab list & plans breaking down all costs
- Contractors estimates to back up costs
- Contractor's license and liability insurance
- Hazard Insurance policy for minimum of loan amount - must be a vacant builders risk policy
- Invoice or paid receipt for Hazard insurance showing coverage for 1 year
Public Savings Bank currently lends in Pennsylvania, New Jersey, Delaware, Maryland,
New York and Florida. Contact us any time by emailing
or call us toll free at 888-8PUBLIC (888-878-2542).
