6 Documents Lenders May Review When Qualifying For a Mortgage
When you apply for a mortgage, lenders review a standard set of documents to verify your identity, income, assets, and the property. Here’s what to have ready.
1. Government-Issued ID
Driver’s license, passport, or other government-issued photo ID. Required for every borrower on the loan.
2. Income Documentation
What lenders need depends on the loan type:
- Full-doc (conventional/QM): 2 years W-2s or 1099s, 2 years tax returns, 30 days pay stubs.
- Bank statement: 12–24 months personal or business bank statements (no tax returns).
- DSCR: lease or market rent appraisal — no personal income docs required.
- Asset depletion: asset statements covering your liquid holdings.
3. Asset & Bank Statements
2–3 months of statements for all accounts being used for down payment, closing costs, and reserves. Large deposits will need to be sourced and explained.
4. Credit Authorization
A signed authorization allowing the lender to pull your credit report. Required before any formal review begins.
5. Property Documentation
Signed purchase contract (for a purchase), or current mortgage statement and payoff information (for a refinance). Hazard insurance contact information. Title and escrow contact.
6. Entity Documents (If Applicable)
If closing in an LLC: operating agreement, articles of organization, and EIN. Required for DSCR and investor loans closing in a business entity.
Having these ready at the start speeds up underwriting significantly. Start your application and we’ll tell you exactly what’s needed for your loan type.