Mortgage Document Checklist
A useful mortgage checklist starts with the way the lender reviews income, not a generic pile of PDFs. Every borrower may need identification, assets, debts, and housing history; self-employed and bank-statement files also need evidence showing how deposits, expenses, and business activity support income the lender can use.
What does every borrower usually provide?
- Government-issued photo ID and authorization for credit.
- Recent asset statements for funds to close and savings after closing, including all pages.
- Housing history, current mortgage or lease, and insurance or HOA information when applicable.
- Purchase contract or refinance details when available.
What do bank-statement borrowers need?
Plan for 12 or 24 consecutive months of personal or business bank statements, depending on the program. Provide complete statements with account-holder name, statement period, account number, beginning and ending balances, and every page. Also gather:
- Business license, CPA or preparer contact, website, invoices, or other evidence the business is active.
- A written explanation for large, unusual, transferred, or cash deposits, with supporting records showing the source.
- Business-purpose expense information when the program uses a business account, plus evidence of transfers to personal accounts.
- Current asset statements and documentation for savings after closing.
What do self-employed full-documentation files need?
- Personal and business tax returns for the period the program requires, including all schedules.
- Year-to-date profit-and-loss statement, preferably prepared or signed by the person responsible for the business records.
- Business bank statements and evidence the business remains active.
- 1099s, K-1s, ownership documents, and explanations for year-over-year income changes when applicable.
What if a P&L is part of the way the lender reviews income?
Keep a current P&L showing revenue, expenses, and net income for the requested period. Ask whether the lender requires a CPA-prepared or signed statement, a balance sheet, business bank statements, or a year-to-date comparison. A P&L is evidence; it is not automatically income the lender can use.
What do investor files need?
- Lease, rent schedule, or market-rent evidence as requested for DSCR analysis.
- Property insurance, HOA details, and existing mortgage statements.
- Purchase contract, entity documents, savings after closing, and source of down payment.
- For short-term rentals, documentation relevant to the property’s operating history and local rules.
How should I explain deposits?
Do not guess. Make a short timeline: date, amount, source, destination, and supporting document. Examples include an invoice payment, transfer between your own accounts, sale of an asset, gift, or refund. Undocumented cash may not be usable. Review self-employed income options before uploading.
Want a list that fits how you are paid?
Send only what is requested through the secure process. Call (775) 525-1595 or send a text and tell me how you earn, what you are buying, and your timeline.
Start with the documents that match how you are paid
A salaried employee, a business owner, and a rental-property investor will not receive the same document list. Begin with the basics, then let the actual loan and income review determine what else is useful. Do not email sensitive paperwork through ordinary email.
- Identification, recent housing history, and permission to review credit.
- Income records that match the way you are actually paid.
- Statements showing the money planned for the purchase, with a clear source for large recent deposits.