I get where you’re coming from—no one wants to drown in paperwork. Still, I’ve seen a few folks run into headaches when a lender suddenly asks for something “random” and it takes days to dig it up. Especially with seniors, sometimes they’ll want older statements or proof of pension income, and if you can’t find it, the process can stall. I’m not saying you need a color-coded system, but having a basic folder with the most likely docs (and maybe a checklist) can save a lot of last-minute scrambling. The digital downloads help, but not every bank keeps records going back more than a couple years. Just my two cents...
Honestly, I thought I was being clever by just keeping everything in my email—turns out, that’s a recipe for chaos. When my lender asked for a “recent” pay stub, I sent one from last year (oops), and then they wanted a pension letter from my dad’s files since he’s co-signing. Cue me, knee-deep in a box labeled “Important Stuff” that was mostly old birthday cards and expired coupons.
I get what you mean about not needing a full-on spreadsheet or color-coded tabs, but man, even a shoebox with the right papers would’ve saved me a headache. Digital is great until you realize your bank only lets you download statements from the past 18 months... and you need something from 2021.
It’s wild how much paperwork they want, especially for seniors. I swear, if I ever do this again, I’m making a “Mortgage Survival Kit”—maybe with snacks for when the printer jams.
Honestly, I get the frustration, but I’d argue the paperwork isn’t just red tape—it’s about risk management. Lenders have to cover themselves, especially with seniors where income sources can be all over the place. I’ve seen deals fall apart because someone couldn’t dig up a two-year-old tax return. It’s annoying, but there’s a reason for it. Maybe not a good one, but still...