Bank statement loan document checklist

How to use this checklist: Check off each document as you collect it. Requirements vary by lender and program, so your lender's document list controls.

1. Bank statements

• Bank statements: 12 or 24 consecutive months from the personal or business account being used to qualify.
• Complete statements: every page, including blank pages and pages marked intentionally left blank.
• Most recent statement: the latest statement required by the lender, typically dated within 60 to 90 days of closing.
• Original files: statement PDFs downloaded from the bank, or clear and complete copies.
• Transfer records: statements or other records tracing transfers between your own accounts, if requested.
• Large-deposit documentation: source records or a written explanation for unusually large deposits, if requested.
• Account-activity explanation: a written explanation for overdrafts, returned payments, or insufficient-funds activity, if requested.

Important: Do not edit, crop, combine, or otherwise alter a bank statement before submitting it. If a statement contains an error, ask the lender how to document it.

2. Business and self-employment documents

• Business formation documents: articles of organization, articles of incorporation, or comparable registration records.
• Business license: a current license, when applicable to the business.
• Business-existence letter: a CPA or tax-preparer letter confirming that the business operates, if requested.
• Ownership documentation: records showing your ownership interest in the business, if required by the program.
• Self-employment history: documents accepted by the lender showing two years of self-employment.
• Same-industry work history: records showing at least two earlier years in the same line of work, if you have been self-employed for only one year and the lender allows the exception.

3. Income-calculation documents, if required

• Expense-factor letter: a CPA or tax-preparer letter confirming the business expense percentage, if the lender permits a documented factor instead of its standard assumption.
• Profit and loss statement: a current P&L, if requested, so the lender can compare reported business activity with the deposit history.
• Deposit explanations: written explanations and supporting records for transfers, tax refunds, gifts, asset-sale proceeds, insurance payouts, or other nonrecurring receipts, if requested.

4. Funds for closing and reserves

• Down-payment and closing-cost statements: bank or asset-account statements showing the funds available for closing.
• Reserve statements: bank or asset-account statements showing the funds that will remain after closing.
• Retirement statements: current statements for retirement assets you want the lender to consider as reserves.
• Brokerage statements: current statements for investment assets you want the lender to consider as reserves.

5. Personal and credit documents

• Photo identification: a current government-issued photo ID.
• Credit authorization: the lender’s completed authorization form for obtaining your credit reports.

6. Property and transaction documents

• Purchase agreement: the fully signed contract, if you are buying a property.
• Homeowners insurance: an insurance estimate, binder, or policy information, as requested.
• HOA documents: applicable association documents and current dues information.