Quote from @Dilcia Morales:
Hello Fellow Investors,
I am excited to be under contract for my first STR property, but I am getting nervous about the many things I'm already discovering. I am surprised that my lender is asking me to access Social Security Records and a tax transcript. Since this is a DSCR loan and I already provided account statements with proof of funds and my mortgage statement for the principal residence, I didn't expect much more would be required. I have no issues, but I didn't need to provide so much information, even for a conventional loan. I appreciate any feedback. Thank you.
Hey Dilcia - it sounds like they need the SSN to run credit. Sometimes documentation of the SSN card is needed if you are not a natural born citizen (mostly not required). The tax transcript is a little abnormal, but I would assume it is to validate a lien or judgement on the background report is paid off. There are very few circumstances where I foresee you needing this.
If they are asking for a 2 years tax returns, paystubs, etc, you may be doing a full doc loan (DTI + DSCR qualification). These are much more involved.
