If you're applying for a mortgage you should really be prepared to be in inconvenience... In the current lending environment, the guidelines, overlays, and continually changing laws will make it very frustrating for all parties involved, not just for the borrower, but for the mortgage loan officer and his staff as well. I have seen the banks ask for the stupidest things, and as a loan officer, I feel even stupider having to go to my client and ask for this specific documentation. Let me give you just one example... I had a borrower purchasing a $100K investment home, 25% down, credit scores in the mid to high 700's, $300K in assets, and debt to income ratios well below allowable standards.. The lender has the obligation to verify that the funds are coming from their own funds and guidelines state that they cannot borrow for the down payment... my borrowers had been signed up with Amway for years. They don't sell the product, they use it in their business... and as a result, they get a commission check every quarter. Their commission check was for $55. The lender had the borrowers write a letter of explanation detailing where this money came from, how often they get it and why it was not included in their tax returns, or disclosed on their application. REALLY!!!.... Yes... This is the headache and hassles you can expect while applying for a loan today... We were able to close this loan of course, but embarrassing and frustrating???? Oh ya.. Be prepared... WilliamAcres.com