What is required for a valid submission?

Provide full legal name, TIN, signed declaration, and supporting documents such as pay stubs, bank statements, and tax returns. Lenders may require notarization or additional verifications depending on underwriting policies.

Can the statement be signed electronically?

Yes, electronic signatures are generally enforceable under the ESIGN Act (15 U.S.C. ch. 96) and UETA where adopted. Confirm lender acceptance and apply required consumer disclosures for consumer-facing transactions.

Do I need a notary or witness?

Notarization requirements vary by lender and state. Some lenders request notarized signatures; others accept eSign with identity verification. Check state notary rules and the lender's instructions before signing.

What supporting documents should be attached?

Attach recent pay stubs, two months of bank statements, latest tax returns, investment account statements, and property appraisals when requested; missing documents typically delay underwriting.

How often must the statement be updated?

Update the statement whenever a material change occurs—such as a job loss, significant asset sale, or new liabilities—and per lender policy, often annually or at loan renewal.

How do I correct an error after submission?

Notify the lender immediately, complete a corrected statement, and provide supporting documentation. Intentional misstatements can result in denial or legal consequences, so correct promptly and transparently.

Electronic Signature
Templates
Finance
Borrower's Financial Statement

Borrower's Financial Statement

This template is fully customizable. Edit the text, fill out the fields, and send it for signature. Give it a try!

Borrower's Financial Statement

This Borrower's Financial Statement is submitted to induce the lender or requesting party to evaluate credit and lending decisions. The undersigned certifies that the information contained herein is complete, true, and correct as of the date signed and acknowledges that material misrepresentation or omission may constitute fraud or be grounds for termination of any credit application or acceleration of indebtedness.

Borrower Information

Full Legal Name

Social Security Number / Tax ID:

Date of Birth:

Present Address Mailing Address (if different)

Phone:

Email:

Marital Status: Single Married Other

Employment and Income

Current Employer

Position/Title:

Time with Employer:

Employer Address

Gross Monthly Salary:

Other Monthly Income:

Assets

List all significant assets. Attach supporting schedules or statements if necessary.

Asset Description	Current Market Value

Total Liquid Assets (cash, checking, savings)

Liabilities

List all outstanding debts, secured and unsecured. Include accounts where you are an obligor or guarantor.

Creditor / Account	Account No.	Current Balance	Monthly Payment

Total Monthly Debt Payments

Real Estate and Vehicles

Primary Residence

Ownership %:

Market Value:

Outstanding Mortgage:

Vehicle (1) Make / Model / Year

Current Value:

Loan Balance:

Monthly Budget Summary

Housing (rent/mortgage)
Utilities
Food / Household
Transportation / Fuel
Insurance (auto, health)
Child Care / Support
Total Monthly Expenses

Contingent Liabilities, Legal and Additional Disclosures

Have you ever had a bankruptcy, judgment, tax lien, or been party to litigation that could materially affect your financial condition? Indicate as applicable and provide explanation where requested.

Declarations

I have filed bankruptcy within the past 10 years.

I have a current judgment or tax lien against me.

I am a co-signer, guarantor, or otherwise liable for any debt not listed elsewhere.

I am a plaintiff or defendant in any pending lawsuit.

If any declaration is checked, provide full details

Additional Information / Explanations

Certification and Authorization

By signing below, the undersigned certifies under penalty of perjury that all statements made in this Borrower's Financial Statement are true, complete and correct to the best of my knowledge and belief. I authorize the recipient of this statement to obtain credit reports and to verify any information provided herein, including employment, bank accounts, and other assets and liabilities. I agree to provide documentation supporting the figures contained in this statement upon request. I understand that the lender may rely on this statement in making credit decisions and that any material misrepresentation or omission may constitute cause for denial, recall, or acceleration of any extension of credit.

Borrower Printed Name:

Signature:

Date:

What a Borrower's Financial Statement Is and when it's used

A Borrower's Financial Statement is a standardized form that summarizes an individual's or entity's financial position for lenders and underwriters. It typically lists income, assets, liabilities, monthly obligations, and declarations about contingent liabilities or pending legal matters. Lenders use it to evaluate creditworthiness, determine loan size or terms, and verify repayment capacity during underwriting and periodic reviews.

Why a clear financial statement matters to lenders and borrowers

A complete, accurate statement reduces underwriting delays, supports correct loan-sizing, and minimizes the risk of later disputes over material facts. Clear disclosure can speed approval, reduce follow-up requests, and establish a reliable baseline for monitoring credit performance.

Who prepares and reviews the Borrower's Financial Statement

Typical participants include the borrower, loan officer, and underwriting team; each has a distinct role in preparation and verification.

Borrower: Completes personal, income, asset, and liability sections and signs to attest accuracy.
Loan Officer: Collects supporting documents, reviews for completeness, and forwards to underwriting.
Underwriting Team: Verifies figures, orders third-party checks, and decides credit terms based on the statement.

Accurate completion by the borrower and timely verification by the lender reduce rework and improve processing speed.

Core sections to include in a professional Borrower's Financial Statement

A well-structured statement contains distinct sections for identification, income, assets, liabilities, cash flow, and legal declarations so reviewers can validate capacity and collateral quickly.

Identification

Full legal name, business name (if applicable), contact details, and taxpayer identification to match supporting documentation and credit reports.

Income

Recurring income sources, annual amounts, and documentation (pay stubs, tax returns) used to calculate debt‑to‑income ratios for underwriting.

Assets

Cash, investment accounts, real estate, and other assets with current values and documentation to support collateral or liquidity assessments.

Liabilities

All outstanding debts, secured/unsecured balances, monthly payments, interest rates, and creditor contact details for payoff verification.

Cash Flow

Monthly income versus expenses summary showing net cash available for debt service, used by underwriters to test repayment capacity.

Declarations

Statements about pending lawsuits, judgments, tax liens, or bankruptcy that materially affect credit risk and eligibility.

Step-by-step: completing the Borrower's Financial Statement

Follow these sequential steps to assemble a complete statement and supporting package for underwriting review.

01

Gather documents: Collect pay stubs, bank statements, tax returns, and asset statements.
02

Fill personal data: Enter legal name, DOB, contact info, and TIN exactly.
03

List finances: Itemize income, assets, liabilities, and monthly obligations clearly.
04

Sign and submit: Sign, date, attach documents, and send to the lender.

Typical electronic workflow for submission and verification

Digital workflows streamline collection, allow automated checks, and capture an audit trail for compliance and recordkeeping.

Upload template: Load the statement form into the signing platform.
Place fields: Add text, date, and signature fields where the borrower must enter information.
Add signers: Assign borrower and any co‑borrower signing roles and authentication.
Finalize distribution: Send for signature and retain executed copies with audit trails.

Configuring a digital form for secure collection

Recommended settings reduce friction and ensure data uniformity while preserving an evidentiary audit trail.

Field	Configuration
Authentication method	Email link or SMS code for signer verification
Field validation	Use MM/DD/YYYY and numeric masks where applicable
Conditional fields	Show additional fields when certain answers selected
Retention policy	Export signed PDF/A and store per retention rules

Technical and format considerations for eSubmission

Ensure the platform supports common formats and integrations needed by your team and compliance rules.

Document formats: PDF, DOCX, XLSX supported
Integrations: Salesforce, NetSuite, Microsoft 365
Authentication: Email, SMS, or advanced methods

Choose configurations that preserve audit trails and file integrity while matching your document management systems.

Typical timing and deadlines related to the statement

Timelines vary by lender and loan program; treat these as common expectations rather than regulatory deadlines.

Submission with application:

Provide at the time of loan application or when requested by the lender

Update on material change:

Supply revised statement within 30 days of a material financial change

Underwriting review period:

Processing typically completes in 3–10 business days depending on verification needs

Notarization window:

If required, obtain notarization before submission to avoid rejections

Record retention:

Retain executed copies per lender policy and applicable law

Key milestones from application to retention

This sequence shows principal stages where the statement is collected, verified, and stored.

01

Application Submitted

Borrower provides completed statement and attachments for initial review.

02

Underwriting Verification

Lender confirms income, assets, and liabilities with third‑party documentation.

03

Decision and Closing

Loan terms finalized; executed statement retained in loan file.

04

Post-Closing Retention

Executed records archived according to regulatory and lender retention policies.

Common mistakes that slow underwriting or cause rework

Entering outdated account balances instead of current statements causes verification requests and delays in approval.
Using nicknames or abbreviated names that do not match ID or tax records prevents automated identity verification.
Omitting co‑borrower liabilities results in understated debt‑to‑income ratios and potential loan rescindment.
Failure to sign or date the form, or using inconsistent signature formats, can invalidate the submission and require resubmission.

Potential consequences of inaccurate or incomplete statements

Loan denial: Underwriters may decline credit for inaccurate disclosures.

Price adjustments: Higher rates or additional covenants may compensate for risk.

Repayment acceleration: Breach clauses can trigger loan recall in extreme cases.

Legal exposure: Intentional misrepresentation can lead to fraud charges.

Tax implications: Incorrect income reporting may affect tax filings and liabilities.

Operational delay: Missing documentation extends processing and closing timelines.

Security and compliance controls for electronic statements

Encryption: TLS 1.2/1.3 in transit; AES-256 at rest

Audit Trail: Comprehensive timestamps and IP logs

ESIGN / UETA: Electronic signature legal frameworks supported

HIPAA (if PHI): BAA available when health data is present

Certification: SOC 2 Type II and ISO 27001 controls

Access Controls: Role-based permissions and SSO options

Real-world examples of using a Borrower's Financial Statement

These customer use cases illustrate practical results when statements are completed accurately and integrated into loan workflows.

Martin Properties

A mid-size property manager centralized borrower statements for remote closings.

The interface enabled end-to-end online processing.
Management reported they could execute documents online with compliance, improving turnaround and reducing in-person requirements across multiple deals.

Optica Ventures

A small investment firm standardized statements across portfolio lending.

Staff found the form easier for clients to complete.
The consistency reduced follow-up requests, improved underwriting efficiency, and provided a reliable audit trail for compliance reviews.

Comparing eSignature vendor pricing and capabilities for signed financial statements

Selected vendor pricing and capability indicators to help compare baseline offerings. Confirm plans and features directly with each vendor when making procurement decisions.

	signNow	DocuSign	Adobe Sign	PandaDoc	HelloSign
Starting Price	$8/user/mo	$15/user/mo	$14/user/mo	$19/user/mo	$15/user/mo
Free Trial	7-day free trial	Varies by vendor	Varies by vendor	Varies by vendor	Varies by vendor
Bulk Send	Yes	Yes	Yes	Yes	No
Audit Trail	Yes	Yes	Yes	Yes	Yes
HIPAA Compliant	Yes	Yes	Yes	No	No

Frequently asked questions about the Borrower's Financial Statement

Answers to common practical and legal questions encountered when preparing, submitting, or updating the statement.

Need help? Contact support

What is required for a valid submission?
Provide full legal name, TIN, signed declaration, and supporting documents such as pay stubs, bank statements, and tax returns. Lenders may require notarization or additional verifications depending on underwriting policies.
Can the statement be signed electronically?
Yes, electronic signatures are generally enforceable under the ESIGN Act (15 U.S.C. ch. 96) and UETA where adopted. Confirm lender acceptance and apply required consumer disclosures for consumer-facing transactions.
Do I need a notary or witness?
Notarization requirements vary by lender and state. Some lenders request notarized signatures; others accept eSign with identity verification. Check state notary rules and the lender's instructions before signing.
What supporting documents should be attached?
Attach recent pay stubs, two months of bank statements, latest tax returns, investment account statements, and property appraisals when requested; missing documents typically delay underwriting.
How often must the statement be updated?
Update the statement whenever a material change occurs—such as a job loss, significant asset sale, or new liabilities—and per lender policy, often annually or at loan renewal.
How do I correct an error after submission?
Notify the lender immediately, complete a corrected statement, and provide supporting documentation. Intentional misstatements can result in denial or legal consequences, so correct promptly and transparently.

be ready to get more

Join over 28 million airSlate SignNow users

Sign Now