How Many Pay Stubs Do You Need for a Mortgage?
Quick Answer
Lenders require 30 days of pay stubs (2-3 stubs)
For mortgage pre-approval and full approval, you'll need your most recent 30 days of pay stubs along with 2 years of W-2s and tax returns. This is the same for conventional, FHA, and VA loans.
Buying a home is the biggest financial decision most people make. This guide breaks down exactly what income documentation mortgage lenders require, how many pay stubs you need, and what to do if you're self-employed.
30 Days
Of pay stubs required
2 Years
Of W-2s and tax returns
28-43%
Target DTI ratio
2 Months
Bank statements needed
Documentation Requirements by Loan Type
While most loan types require the same basic documents, there are differences:
| Loan Type | Pay Stubs | Tax Returns | Bank Statements |
|---|---|---|---|
Conventional Loan Standard Fannie Mae / Freddie Mac guidelines | 30 days (2-3 stubs) | 2 years | 2 months |
FHA Loan Gift funds require documentation | 30 days (2-3 stubs) | 2 years | 2 months |
VA Loan Certificate of Eligibility (COE) also required | 30 days (2-3 stubs) | 2 years | 2 months |
USDA Loan Income limits apply | 30 days (2-3 stubs) | 2 years | 2 months |
Jumbo Loan Stricter documentation requirements | 60 days (4-6 stubs) | 2 years | 3-6 months |
Self-Employed Business tax returns also required | N/A (see below) | 2 years + P&L | 12-24 months |
Pre-Approval vs. Full Approval: Same Documents
A common misconception is that pre-approval requires fewer documents. In reality, a legitimate pre-approval uses the same documentation as full approval:
Pre-Approval
- 30 days of pay stubs
- 2 years of W-2s
- 2 years of tax returns
- 2 months of bank statements
- Credit check (hard pull)
Valid for 60-90 days. Gives you a firm purchase price range.
Pre-Qualification (Less Rigorous)
- Self-reported income (no stubs needed)
- Basic financial information
- Soft credit check (sometimes)
Not a guarantee of approval. Sellers and agents prefer pre-approval letters.
How Lenders Use Pay Stubs to Calculate Your Mortgage DTI
Mortgage lenders use two DTI calculations: the front-end ratio (housing costs only) and the back-end ratio (all debts). Both use your gross income from pay stubs.
Mortgage DTI Example:
DTI Limits by Loan Type
- • Conventional: Front-end 28%, Back-end 36-43%
- • FHA: Front-end 31%, Back-end 43% (up to 50% with compensating factors)
- • VA: No front-end limit, Back-end 41% (flexible with residual income)
- • USDA: Front-end 29%, Back-end 41%
Complete Mortgage Document Checklist
Self-Employed? Here's What You Need Instead of Pay Stubs
Self-employed borrowers face stricter documentation requirements since there's no employer to verify income. Here are your options:
Full Documentation Loan (Most Common)
- 2 years of personal tax returns (1040s)
- 2 years of business tax returns
- Year-to-date profit and loss statement
- 2-3 months of business bank statements
- Business license or CPA letter
Bank Statement Loan (Alternative)
No tax returns or pay stubs needed, but higher rates:
- 12-24 months of personal or business bank statements
- CPA letter verifying self-employment
- Typically 10-20% down payment required
Mortgage Fraud Is a Federal Crime
Mortgage lenders perform thorough verification of all income documents. They cross-reference pay stubs with W-2s, tax returns, and employer records. Providing falsified income documentation for a mortgage is a federal offense under 18 U.S.C. § 1014, carrying penalties of up to $1 million in fines and 30 years in prison. Only provide accurate documentation of your actual income.
Self-Employed and Need Income Documentation?
If you're self-employed and need professional pay stubs to supplement your mortgage application, create documentation that accurately reflects your income.
Important: Self-employed pay stubs should match your tax returns and bank deposits.
Frequently Asked Questions
How many pay stubs do I need for a mortgage?
Most mortgage lenders require your most recent 30 days of pay stubs. For someone paid biweekly, that's 2 pay stubs. Weekly pay means 4 stubs. Semi-monthly means 2 stubs. The requirement is the same for pre-approval, full approval, and underwriting.
How many pay stubs is 30 days?
It depends on your pay frequency: Weekly pay = 4-5 stubs, Biweekly pay = 2-3 stubs, Semi-monthly pay = 2 stubs, Monthly pay = 1 stub. Two biweekly pay stubs (covering 28 days) typically satisfy the 30-day requirement.
Do you need pay stubs to buy a house?
Yes, for most mortgage types you need pay stubs as primary income verification. The exception is self-employed borrowers who use tax returns and bank statements instead. Some 'bank statement loan' programs don't require traditional pay stubs but have higher interest rates.
Are pay stubs required for mortgage pre-approval?
Yes, the documentation requirements for pre-approval are the same as for full approval: 30 days of pay stubs, 2 years of W-2s, and 2 years of tax returns. Some lenders offer 'pre-qualification' with just stated income, but a true pre-approval requires documents.
What if my pay stubs are older than 30 days?
Lenders need current pay stubs. If yours are older than 30 days, you'll need to wait for your next paycheck or request updated stubs from your employer. During underwriting, expired stubs are one of the most common reasons for delays.
Can I get a mortgage without pay stubs if I'm self-employed?
Self-employed borrowers don't use traditional pay stubs. Instead, you'll need 2 years of personal and business tax returns, a year-to-date profit and loss statement, and 12-24 months of bank statements. Some lenders offer 'bank statement loans' for self-employed borrowers.
Do mortgage lenders verify pay stubs?
Absolutely. Lenders verify pay stubs through multiple methods: calling your employer's HR department, using The Work Number or similar verification services, comparing against W-2s and tax returns, and examining stubs for inconsistencies. This verification happens during underwriting.
Getting Ready to Buy a Home?
Get your income documentation in order before you apply. Start with pay stubs and work through the full checklist above.
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