Do I have to provide my banking information to verify my income?

Unfortunately, if you aren't able or willing to provide your banking information to The Closing Docs, then we will not be able to approve your application using our standard income verification process. We must have independent verification that your stated income is what your income actually is. There are simply too many sophisticated scams out there today, including forged bank statements, pay stubs, tax returns, social security statements, etc. The only way we can be absolutely sure of your income is for The Closing Docs to directly access your banking information through their secure system to verify your actual bank deposits. If you are not willing or able to do this, then we will not be able to approve your application using our standard system.

That said, we do offer a Special Income Verification Request process where you can go through an alternative system of approval if your income is not verifiable through The Closing Docs. The following applies:

• You must submit a request using the link provided in your denial email after your application is denied using our standard income verification process.
• You will have to pay a $250 Alternative Income Verification Administrative Fee for us to process your request.
• You will need one of the following:
  • Cash in the bank, verified through The Closing Docs, of at least 2 times the yearly rent amount. You will then need to pay all of your rent for the entire term of the lease up front.
  • Alternative documentation to verify your income, such as a tax return from last year, pay stubs from the last three months, or a verification letter from your employer.
• If approved, you will have to pay a monthly fee during the term of your lease of $25 for risk mitigation, as your application is considered higher risk than an applicant approved using our standard system.