What documents you need for a Florida mortgage (and what you do not)
Of the whole process of buying a home, the thing that stops most people is not the down payment or the rate. It is the document list. It sounds like endless paperwork, and anyone who is self-employed or buying with an ITIN usually assumes they will be asked for impossible things.
The list is shorter than it looks. Here it is in full, along with what you will not be asked for, which almost nobody tells you.
What documents does everyone need?
Whatever the program, there are three blocks:
Who you are. Valid photo ID. Florida license, passport, or consular ID, depending on the program.
What you earn. Depends on how you get paid, so that gets its own section below.
What you have. Two months of complete bank statements. Complete means every page, including the ones that just say “this page intentionally left blank.” Phone screenshots get rejected.
What if I am self-employed?
This is where people give up before they start, and they should not.
The traditional path asks for two years of tax returns, personal and business, plus a year-to-date profit and loss statement. The known problem: if you deduct aggressively — which is what your accountant tells you to do — your returns show low income, and that is the number you get measured by.
The alternative path documents income differently:
- Bank statements: 12 or 24 months, with income calculated from deposits.
- Profit and loss statement: on some programs one you prepare yourself is enough, no CPA required.
Those paths exist precisely for people who earn well but cannot show it on a return. They are not a consolation prize; they are full products.
What if I am buying with an ITIN?
The paperwork changes less than people think:
- Your ITIN letter or IRS notice
- Photo ID: passport from your country or consular ID
- Proof of income, through any of the paths above
- If you have no U.S. credit history, alternative references: rent, utilities, phone, insurance. In some cases a credit report from your home country is accepted
Remember that ITIN programs are portfolio or conventional — they are not FHA, because FHA requires a Social Security Number. It is explained in full in the catalog.
Why do they ask where a deposit came from?
Because they have to, not because they distrust you.
When a large deposit appears that does not match your normal income, the lender is required to document where it came from. That is anti-money-laundering regulation and it applies to everyone equally.
Two things that save you weeks:
- If a family member is gifting your down payment, have them send it by bank transfer so there is a trail. Unexplained cash deposits are the single most common delay there is.
- Do not move money between your own accounts unnecessarily during the process. Every movement is one more thing to explain.
What you do NOT need
This almost never gets said, and it takes a lot of fear out:
- You do not need to pay anything for us to review your case. The initial review is free.
- You do not need a credit card to start.
- You do not need a house picked out. The opposite: you want to know your number before you go looking.
- You do not need a Social Security Number if you are going through an ITIN program.
- You do not need two years at the same job. That is a myth. What matters is stability and continuity in the same line of work.
- You do not need perfect credit. You need to meet the minimum for the program you are going through.
What delays a file the most?
In order, based on what shows up every day:
- Incomplete documents. One missing page of a bank statement and the file stops.
- Unexplained deposits.
- Changes during the process. Switching jobs, opening a new credit card, or buying a car between pre-approval and closing can sink an approval. It sounds extreme and it happens often.
- Expired documents. Bank statements and pay stubs go stale; if the process drags, they have to be resent.
When is each thing needed?
It is not all at once:
- For the first call: nothing. Just the conversation.
- For pre-approval: ID, proof of income, and bank statements.
- Once you have a house: the contract, the insurance quote, and whatever the underwriter asks for on your particular file.
What to do now
Gather what you already have — ID, two months of bank statements, and whichever income proof applies to you — and leave us your phone number from the catalog. On the first call we tell you what is missing and what your case does not need.
If you want to see your numbers first, the calculators are there.
Sources
- Fannie Mae Selling Guide — income and asset documentation, large deposits
- Freddie Mac Selling Guide — self-employed borrower documentation
- HUD, Single Family Housing Policy Handbook 4000.1 — documentation requirements
- Consumer Financial Protection Bureau — the mortgage application process
This article is informational and is not an offer or a commitment to lend. Documentation requirements vary by program and by file, and are subject to what the underwriter requests. Infinity Wholesale Mortgages, LLC, Company NMLS #2420223. Equal Housing Opportunity.