Underwriting Document Checklist

Interactive document readiness tracker. Check off each required underwriter item to achieve 100% submission readiness for automated underwriting approval (DU/LPA).

Document Readiness Progress0% Ready (0/12 Items)

1. Income & Tax Verification

2 Years W-2 Forms (or 1099s)

All Borrowers

Full copies of federal W-2s from the past 2 calendar years for all employers.

2 Years Federal Tax Returns (IRS 1040)

Self-Employed / Commission / Real Estate Owners

Complete signed 1040s including Schedule A, C, D, and E (especially if self-employed or claiming rental income).

30 Days Consecutive Paystubs

W-2 Employed Borrowers

Most recent pay statements showing gross wages, taxes withheld, and year-to-date (YTD) cumulative earnings.

Year-to-Date (YTD) Profit & Loss Statement

Self-Employed & 1099 Contractors

Signed P&L statement and balance sheet covering the current calendar year to date.

2. Assets & Down Payment Sourcing

60 Days Complete Bank Statements

All Borrowers

All pages (e.g., 1 of 6, 2 of 6) for all checking, savings, and money market accounts. Zero missing pages.

Sourcing for Large Non-Payroll Deposits

Borrowers with Transfers / Asset Sales

Paper trail (e.g., bill of sale, transfer receipts) for any single deposit exceeding 50% of monthly qualifying income.

Quarterly 401(k), IRA & Brokerage Statements

Borrowers using investment reserves

Most recent quarterly statements showing vested balance, withdrawal terms, and loan availability for reserves.

Signed Gift Letter & Donor Bank Statement

Borrowers using family gift funds

Fannie Mae/FHA compliant gift letter certifying no repayment is required + donor proof of seasoned funds.

3. Housing & Rental Payment History

12 Months Verification of Rent (VOR)

First-Time Homebuyers & Renters

Formal institutional landlord VOR form or 12 consecutive months of canceled bank checks / wire transfers.

4. Identification & Residency

Valid Government Photo ID

All Borrowers

Unexpired state Driver's License, US Passport, or Permanent Resident Card.

Social Security Card or IRS W-7 ITIN Letter

All Borrowers

Official government document verifying taxpayer identification number for credit bureau matching.

5. Letters of Explanation (LOE)

Letter of Explanation for Inquiries (Past 120 Days)

Borrowers with recent credit pulls

Signed statement certifying whether new debt was opened for each bureau credit inquiry.