Gathering your financial paperwork is often the most time-consuming part of the mortgage process. To ensure a smooth approval for a Conventional Loan, having these documents organized and ready for your loan officer is essential.
Lenders use these documents to verify the “Three Cs” of underwriting: Capacity (income), Capital (assets), and Credit. For a deeper look at the rules behind these requirements, see our Conventional Loan Guide.
I. Personal Identification & History
Lenders must verify your identity and residency history for the past two years to comply with federal regulations.
- Photo ID: A legible copy of a valid Government-issued ID (Driver’s License or Passport).
- Social Security: Proof of your Social Security Number (SSN) for the credit pull.
- Residence History: Addresses for the last 2 years, including landlord contact information if you have been renting.
II. Income & Employment Verification
The documentation required here depends on how you earn your living. Lenders generally require a two-year history of stable earnings.
III. Asset & Down Payment Documentation
Lenders must verify you have sufficient funds for the down payment and closing costs, as well as “reserves” (extra cash in the bank).
- Bank Statements: All pages of your checking and savings statements for the last 60 days. (Note: Screenshots are not acceptable; must be official PDF statements).
- Investment Accounts: Recent statements for 401(k), IRA, stocks, or mutual funds.
- Gift Funds: If using a gift for your 3% down payment (common with the Conventional 97), you will need a signed Gift Letter and proof of the wire transfer.
IV. Special Circumstances (If Applicable)
Depending on your financial history, you may need to provide additional “trailing” documents:
- Divorce/Alimony: Full copy of divorce decree or court order to verify child support or alimony (either as income or a debt).
- Credit Explanations: A signed letter of explanation for any recent credit inquiries or past derogatory items. See our Credit Score Guide for help here.
- Real Estate Owned: If you own other properties, provide current mortgage statements, tax bills, and insurance dec pages for each.
V. Next Steps: Digital Pre-Approval
Ready to start? We offer Digital Asset Verification, which allows you to securely link your bank accounts to our portal, often eliminating the need for you to manually upload months of statements.
START YOUR SECURE DOCUMENT UPLOAD