Submit documents and answer requests from the lender

What to do now

Gather your documents

• Use our application packet checklist as a guide for what to gather, if you haven’t already.
• Ask your loan officer what additional documents you may need based on your situation.

Submit your documents

• Ask your loan officer for precise instructions on how and where to submit the information.
• Submit copies. Keep your originals.
• Confirm that the right person has received your documents.

Be proactive and responsive to your lender

• Make sure your loan officer has your current contact information.
• Check your email, voicemail messages, and postal mail frequently to make sure you don't miss requests for more information.
• Respond quickly to requests for additional documents.

What to know

Expect to work with multiple people associated with your lender

Lenders have specialized staff that work on processing and underwriting (approving) your loan.

If you receive regular income from a non-employment source, be prepared to submit additional documentation

You may have regular income from sources other than employment, such as child support, alimony, or rental income. If you rely on this income, the lender needs proof that this income can reasonably be expected to continue in the future at the same level.

If you have made one or more large deposits into your bank account recently, be prepared to document the source of the money

It’s common for home buyers to have large deposits in their bank records, especially when transferring money between accounts in preparation for a home purchase. Lenders are generally required to verify the source of your income and down payment funds. Requirements vary, so ask your lender what documentation you need.

Some lenders have technology to automate document collection

This could involve them requesting certain banking account information and credentials in order to verify income or employment. Here is what should consider when deciding whether to share your financial data.

You can’t bring actual cash to closing

Your lender, real estate agent, and even your Loan Estimate form all talk about your “cash to close” or the amount of money you need to bring to closing. The money you bring to closing typically needs to be in the form of a cashier’s check or wire transfer from a bank. Confirm with your closing agent what form of payment you need.

How to avoid pitfalls

Don’t submit incomplete documents

• Include every page of multi-page documents, even ones marked “intentionally left blank.”
• Make sure that the full website address (URL) is included on the bottom of each page when printing online documents.

Some kinds of loans do not allow you to use gift funds for the down payment

If some of your down payment funds are a gift, ask your loan officer now whether the gift funds are allowed with the loan you’ve chosen.