Key Documents + What They’re For

In mortgage files, documents are used to verify borrower information. As a Mortgage VA, you do not need to underwrite, but you should understand what each document supports and when it usually appears in the workflow.

Here are common documents in a typical loan file: 

• Form 1003 (URLA)

• Credit report

• Income documents (paystubs, W-2s, tax returns)

• Asset documents (bank statements, proof of funds)

• Purchase contract (for purchase loans)

• Homeowners insurance (HOI)

• Title documents

• 1003 (URLA): the main loan application form that contains borrower info, income, assets, liabilities, and loan details. 

• Credit report: shows credit history, scores, and liabilities (debts). 

• Paystub: supports current employment and current income. 

• W-2 / tax return: supports income history and consistency. 

• Bank statement: supports assets and available funds. 

• Purchase contract: confirms property details and purchase terms. 

• HOI: confirms insurance coverage and premium. 

• Title documents: support ownership and title work coordination.

Match the document to what it mainly supports:

A) Paystub
B) Bank statement
C) Purchase contract
D) HOI quote
E) Credit report
F) Form 1003 (URLA)

1. Borrower and loan application details

2. Debts and credit profile

3. Current income and employment support

4. Assets and available funds

5. Property and purchase terms

6. Insurance coverage and premium