How to apply for a loan?
After clicking the "Get Started" button, customers have to create an account by choosing their username and password. Then fill out an application form with information about their credit score and financial situation. After double-checking the information, customers will have to submit an application online and upload the necessary documents.
Eligibility requirements
A customer should attach to the application such income documents as the most recent 30 days' pay stubs, two most recent years' federal tax returns, W2's, and 1099s for all sources of income. Self-employed people should also attach the two most recent business returns, retirement, SSI, and disability award letter.
As for asset documents, the clientele has to provide the two most recent monthly bank statements and retirement accounts – 401k, TSP, IRA, and gift funds.
Take into account that, during the application process, some other documents may be required as well.
Applications are generally considered within one or two business days.
The reasons for rejection commonly include insufficient experience operating in business or debt-to-income ratio (DTI) and the incongruity of credit score and documents to the OVM Financial's requirements.
