Quick question re: Financial Statement

Just had a quick question as i’m getting mixed ideas. One of the deals i’m in the middle of, the bank requires a Financial Statement.

Now, i was under the impression that the “financial statement” is more of a term for collecting a couple years of tax returns, bank statements, pay stubs, etc. Kind of like putting together a “mini financial package” within the Short Sale package.

But when they asked for the financial statement PLUS bank statments, tax returns, w2’s, etc etc, it’s obvious these guys want an actual financial statement/financial cover sheet of some sort, etc.

I know this sounds like a silly question overall, but i’ve ask this question to three different investors and got three different answers. Some investors consider the financial statement to be a mini financial package, while others actually do use a financial cover sheet. All three investors have closed many SS deals using different financial statement ‘methods’ as mentioned above.

So my question is, which one is it? What actually is a financial statement? Is it considered “a group of financial paperwork” (bank statements, paystubs, w2’s) or, is it a single cover sheet that breaks down all the finances WITHIN this group of financial paperwork?

What have you guys used/done to satisfy this requirement?

I already have everything in regards to tax returns, paystubs, w2’s, bank statement, etc.

Appreciate your thoughts and feedback.

When a bank asks for a financial statement for a real estate loan, they usually want their own form filled out. Typically this includes, at a minimum, a balance sheet (your assets, your liabilities, and your net worth). However, the bank form usually also has some income information to fill out, and they ask questions like through what year are your taxes settled, and whether you’ve been bankrupt or foreclosed on, etc.

This document will accompany all of the other supporting materials such as your tax returns, W-2s, statements, etc.

Your bank should have its own form for this. If they don’t, why not just ask them specifically what they want?

Here’s an example:
http://www.sba.gov/sbaforms/sba413.pdf

I have a little more simple version of a financial statement that I’ve used…so far, successfully. It’s just a one-pager, basically like the person said above, a mini-balance sheet. I’d be glad to share wth you.