Income documentation is where lenders spend the most time, since a stable, easily verified salary moves faster than variable or self-employed income, which typically needs two years of filings to establish an average rather than a single good year.
Down payment source matters almost as much as the amount. A lender wants to see where the money for even the minimum, 5 percent to $500,000 and 10 percent above, has been sitting for at least 90 days, since a large, unexplained deposit right before an application raises questions.
Getting these documents together before you start looking saves time once you find the right house. Get your hand-reviewed valuation from Joel Dyck.