Income
W-2s + paystubs + tax returns
Last 2 years of W-2s. Most recent 30 days of paystubs (covering 30-day period). Self-employed: last 2 years of full federal tax returns + YTD P&L.
Mortgage Documents · one folder, one evening
One scanner.
One evening. Done forever.
The mortgage document list looks intimidating. It's actually consistent across loan types. Here's exactly what to gather, where to get it, and how to organize so it answers every underwriting question on the first pass.
· The full list
Five categories.
Twelve documents.
Assets
Bank statements (every page)
Last 2 months of statements for every account. Every page, even blank ones. Lenders need to see continuous history. Print PDFs from your bank's site.
Identity
Government ID + SSN
Driver's license or passport. SSN for the credit pull. Some lenders require both ID + a secondary like utility bill for address verification.
Special docs
Divorce decree, bankruptcy, gift letter (if applicable)
Divorce decree: required if alimony/child support counts as income, OR if you owned property in the marriage. Bankruptcy discharge papers if filed in last 7 years. Gift letter from family if any down payment is gifted.
Property
Insurance + HOA docs (post-contract)
Once under contract: homeowners insurance binder showing coverage at close. HOA docs (covenants, financial statements, dues) if applicable. Title insurance + appraisal happen via the lender.
· Organization tips
Four moves
that save weeks.
Pitfall 01
Scan once, send often.
Scan every doc to a single labeled folder. Send via your LO's secure portal. Don't email PII. Reuse the folder for every subsequent request — most repeat docs already exist.
Pitfall 02
Source every large deposit.
Deposits >50% of monthly income flag for sourcing. Have an explanation + supporting paperwork (e.g. 'sold car, here's the bill of sale'). Source preemptively to avoid back-and-forth.
Pitfall 03
Keep statements clean.
If you can avoid moving money around, do. Each transfer needs explanation. The cleaner your statements, the faster underwriting moves.
Pitfall 04
Respond within 24 hours.
Underwriting is a conveyor belt. A 1-day delay on your end = 3-day push on the close timeline. Same-day responses keep deals moving.
One folder.
One evening of work. Done.
Five minutes for the readiness check first. Then the doc gathering becomes targeted, not scattered.