What Documents Will I Need?
The answer depends on how you earn income, the property, the loan type and your individual scenario. Choose the category closest to your situation.
W-2 Employee — Common Starting Documents
- Government-issued photo identification
- Recent pay stubs covering approximately 30 days, when required
- W-2 forms, typically for the most recent two years when required
- Recent bank/asset statements for funds to close and reserves
- Employment history and employer contact information
- Purchase contract once under contract
- Homeowners insurance information later in the process
This is a general starting checklist, not a complete underwriting list. Required documents vary by lender, loan program, property and borrower circumstances.
Self-Employed Borrower — Common Starting Documents
- Government-issued photo identification
- Personal and/or business federal tax returns as required by the selected program
- Year-to-date profit and loss statement when required
- Business balance sheet when required
- Business license, CPA letter, corporate documents or ownership verification when applicable
- Recent personal and business asset statements when required
- Explanation/documentation of business funds used in the transaction if applicable
This is a general starting checklist, not a complete underwriting list. Required documents vary by lender, loan program, property and borrower circumstances.
Investor / DSCR — Common Starting Documents
- Photo identification and entity documents if vesting in an eligible entity
- Purchase contract or current mortgage statement for refinance
- Lease, market-rent documentation or operating history depending on program
- Property tax, insurance and HOA information
- Asset statements for down payment, closing costs and required reserves
- Existing real-estate schedule or mortgage statements when requested
- Short-term rental history/documentation if permitted and applicable
This is a general starting checklist, not a complete underwriting list. Required documents vary by lender, loan program, property and borrower circumstances.
Foreign National — Common Starting Documents
- Valid passport and applicable immigration/visa documentation if required by the program
- Foreign bank and asset statements
- Foreign employment or income documentation when the selected program requires income qualification
- Source-of-funds documentation and transfer trail
- Foreign credit report, credit references or alternative credit when required by the program
- Purchase contract and property details
- Certified translations when required by the lender/program
This is a general starting checklist, not a complete underwriting list. Required documents vary by lender, loan program, property and borrower circumstances.
Retired / Fixed Income — Common Starting Documents
- Government-issued photo identification
- Social Security award letter or benefit statement when applicable
- Pension or retirement award/distribution documentation when applicable
- Recent retirement, investment or annuity account statements
- Bank/asset statements for funds to close and reserves
- Recent tax returns or 1099 forms when required by the selected program
- Documentation showing continuance of qualifying income when required
This is a general starting checklist, not a complete underwriting list. Required documents vary by lender, loan program, property and borrower circumstances.
Refinance — Common Starting Documents
- Government-issued identification
- Current mortgage statement
- Homeowners insurance declarations page
- Property tax information
- Income and asset documentation required for the new loan program
- HOA statement/contact information if applicable
- Documentation supporting cash-out purpose or debts to be paid, if applicable
This is a general starting checklist, not a complete underwriting list. Required documents vary by lender, loan program, property and borrower circumstances.
Other Situations — Common Starting Documents
- Gift funds: donor information, gift letter and transfer documentation as required
- Retirement income: award letters, statements and distribution history when required
- Rental income: leases, tax returns and/or property documentation depending on program
- Sale of another property: contract, closing disclosure or settlement statement when required
- Alimony/child support used as qualifying income: legal agreement and receipt history if applicable
- Large deposits or unusual transfers: source documentation when required by underwriting
This is a general starting checklist, not a complete underwriting list. Required documents vary by lender, loan program, property and borrower circumstances.
Not Sure Which List Applies?
Send Michelle the scenario and she can tell you what to gather first.