If you receive Social Security retirement, disability (SSDI), survivor benefits, or dependent benefits, lenders will typically need documentation showing the amount of income you receive and evidence that it is currently being deposited.

In most cases, the required documentation includes:

• Your Social Security award or benefits letter
• Recent bank statements showing the deposits
• Any updated benefit notices if your payment amount has changed

Many borrowers can obtain a current benefits verification letter directly through their Social Security online account rather than waiting for a paper copy in the mail.

Because Social Security income is often non-taxable, some loan programs may allow the income to be “grossed up” for qualifying purposes, potentially increasing your purchasing power.

Your loan officer can review your specific benefit type and let you know exactly what documentation is required for your loan program.