Honestly, I hear this all the time, and I totally get where you’re coming from. The paperwork mountain feels endless, even for folks with spotless credit. Lenders are just super cautious these days—sometimes to a fault, if you ask me. I’ve seen people have to dig up the same docs more than once because underwriters want to double-check everything. It’s not fun, but it’s all about covering every possible base. If it helps, keeping digital copies handy can save a ton of hassle when they inevitably ask again...
Honestly, the paperwork is what stresses me out most about the whole process. I get why lenders want to double-check everything, but sometimes it feels like overkill. I’ve had to resend pay stubs and bank statements more than once, and it made me wonder if they actually lose stuff or just want to see if you’re consistent.
I do keep digital copies of everything now—learned that lesson the hard way. But here’s something I’m still not clear on: how long do you really need to keep all these documents after closing? Is there any risk in tossing them after a year or so, or should I be hanging onto them for longer? I’m always worried there’s some obscure reason they’ll come back asking for something down the line...
Also, does anyone know if there’s a way to get a heads-up on exactly what docs they’ll need before you even apply? Or is it just a moving target depending on the lender? I’d rather over-prepare than get caught off guard.
But here’s something I’m still not clear on: how long do you really need to keep all these documents after closing? Is there any risk in tossing them after a year or so, or should I be hanging ...
Keeping paperwork forever feels like overkill, but I’d actually push back a bit on tossing things after just a year. In my experience, lenders and even tax folks can circle back with questions a couple years down the line—especially if you refinance or sell. I’ve heard stories of people needing old HUD-1 statements or payoff letters years later. I keep digital copies of the big stuff (closing disclosure, note, deed, final loan application) for at least as long as I own the house. The rest—like pay stubs and bank statements—I’ll keep for a couple years just to be safe.
About knowing what docs you’ll need, it’s not always as unpredictable as it seems. Most lenders have a standard checklist they’ll share if you ask early on. It’s usually the same basics: W-2s, recent pay stubs, bank statements, tax returns. Sometimes they’ll ask for extra stuff if something looks odd, but you can get 90% of it ready in advance. I’d say it’s less of a moving target than it feels... but yeah, they do love to double-check everything.
Title: Top 10 Mortgage Questions Answered: Everything You Need to Know
I get where you’re coming from—nobody wants to be a hoarder of random paperwork. But I’ve seen too many folks toss things a little early and regret it later. One client of mine, years after closing, got hit with a property tax issue because the county had a clerical error. The only thing that cleared it up was a copy of her original closing disclosure. She’d scanned it, thank goodness, but if she’d chucked it after a year, she would’ve been in a real mess.
I’m always a bit skeptical when people say “you’ll never need that again.” Maybe you won’t... but when you do, it’s usually a pain to track down. Title companies change hands, mortgage servicers merge, and suddenly nobody has your docs on file. I just keep a digital folder for each house I own and dump the big stuff in there—deed, note, closing disclosure, title insurance policy. It takes up almost no space, and at least I know where everything is if something weird comes up.
On the checklist thing, I agree it’s not as mysterious as it seems. Lenders are creatures of habit. But every now and then, they’ll throw a curveball. I had an underwriter once ask for proof of a $200 Venmo transfer from six months prior. No clue why. It’s rare, but it happens. Having a few extra statements on hand doesn’t hurt.
Long story short, I don’t think you need to keep every single page forever, but I’d err on the side of caution with the main docs. Digital copies are a lifesaver. And yeah, expect lenders to double-check everything—sometimes twice. Just the way it goes.
I get the whole “better safe than sorry” thing, but honestly, I’ve refinanced twice in the last five years and never once needed to dig up anything older than a couple of statements and the payoff letter. Maybe I’ve just been lucky, but I feel like lenders already have most of the big docs on file.
“I just keep a digital folder for each house I own and dump the big stuff in there—deed, note, closing disclosure, title insurance policy.”
That’s smart, but I’m not sure I’d stress over keeping every single thing forever. I keep the main stuff, but I’ve tossed a lot of the random disclosures and old statements. If something weird comes up, I figure I can always request a copy from the lender or title company... though yeah, it might be a hassle. Just my two cents.
