Solar Transfer for Dividend
Full Instructions and forms by clicking on the links provided. (844) 805.7100
Buyer/Assumer To-Do’s
Complete Application – and email to LoanRetention@DividendFinance.com (clink the link above)
Proof of Income (if required)
- Bank statement (no older than 30 days) to verify depository transaction; and
- Wage-earner:
• One (1) pay stub dated no later than last 30 days from the credit application date or • Prior year W-2 can be accepted until February 28th of the current year.
- Self-employed or retired Documents eligible if dated within 18 months of application date. • Tax return reflecting all schedules.
• 1040 Personal tax return with Schedule C with 2nd page signed by customer.
• 1120 Business tax return with K1
• 1165 Business tax return with K1
• 1099(s)
- *In the case that a self-employed applicant has not yet filed taxes for prior year, the applicant must provide two year’s prior business tax return, prior and current YTD accountant prepared P&L AND a paystub within 30 days of application OR personal bank statement no later than 30 days from date of application that evidences the reoccurring deposits of income including the name of the employer
Retired only:
• Current award letter from SSN, VA, or other qualifying government retirement agency
• PensionorAnnuitystatement
• Bank Statements reflecting direct deposit from qualifying government agency, 2 required within 6 months of Loan Application
Proof of Mortgage for the new home purchase; this would be within the Closing Disclosure provided by your new lender if home is being sold.
Send all to loanretention@dividendfinance.com–Please reference Address for Property on Email, allow up to 5-7 business day for processing and approval/denial notification. Additional documentation may be required based on underwriting review. Failure to provide additional documents may result in adverse action.
Original Borrower To-Do’s:
The Incentive Investment Payment must be paid on the loan before the final transfer of the
loan. If it has not yet been paid, please call us at 844-805-7100, Option 1, Option 3 to set up a payment, or to discuss options regarding the Incentive Investment Payment
If paying out of escrow from seller proceeds, please provide escrow departments information so we can have the Incentive Investment payment added to your closing statement.
Loan Transfer process will begin once all the above “Buyer/Assumer To-Dos” are received.
Please note, the seller will be responsible for any payments due during the transfer process and 15 days after closing.
Once borrowers have been final approved and all necessary documents received, we will send a Loan Transfer Agreement to all parties within 1-2 business days.
