Eligibility Document Checklist Calculator

How to use this calculator

1. Choose a finance product and applicant type.
2. Enter income, debts, credit score, and stability details.
3. Tick documents you already have available.
4. Submit to see score, required documents, and gaps.
5. Export CSV or PDF to share with reviewers.

Formula used

Calculator

Example data table

Documentation Readiness Metrics

This checklist estimates readiness using three outputs: eligibility score (0–100), document completeness, and DTI. DTI is calculated as monthly debt divided by monthly income. As a practical benchmark, DTI under 35% is typically manageable, 35–45% needs stronger justification, and above 45% may trigger tighter limits. Completeness above 75% usually reduces clarification calls; 90%+ supports faster internal routing.

Product-Based Document Coverage

The engine maps five products to document bundles and adds conditional items for collateral, residency, banking history, and tax status. Personal lending commonly falls near 8–12 items, auto finance 9–13, mortgages 12–16, and business lending 14–20 depending on statements and filings. Mortgage packs add title, valuation, and down‑payment trail. Auto packs add quotation and insurance. Business packs add projections, contracts, and supplier evidence when cash flows vary.

Applicant Profile Impact

Applicant type changes both document count and verification depth. Salaried applicants rely on slips, employment proofs, and six‑month statements. Self‑employed applicants add registration, two years of returns, twelve‑month business statements, and basic income summaries. Business entities add incorporation, board resolution, audited statements, director IDs, and registry extracts. Non‑resident profiles add overseas proofs, which can extend verification queues.

Scoring Weights and Benchmarks

The score combines eight weighted factors: Credit 25, DTI 20, Income 20, Employment 15, Age 5, Residency 5, Banking history 5, and Tax compliance 5. Income is compared to a product benchmark (editable), so the same salary can score differently across products. “Fair” starts near 50, “Good” near 65, and “Strong” near 80, subject to policy overrides.

Operational Data for Review Planning

Completeness drives estimated review days: 90%+ targets 2 days, 75–89% targets 3 days, 60–74% targets 5 days, and lower completeness often exceeds a week. Use the missing list as an action queue: secure identity, address, and statements first, then product‑specific proofs, then optional support. Exports standardize submission packs, enable audit trails, and reduce rework across multiple applications for busy teams.

FAQs

1) What does the eligibility score represent?

The score is a 0–100 weighted estimate based on credit, affordability, income, and stability inputs. It helps prioritize improvements before applying, but it does not guarantee approval or pricing.

2) How is DTI calculated and why does it matter?

DTI equals monthly debt payments divided by monthly income. A lower DTI suggests more affordable repayment capacity and can reduce additional verification or tighter lending limits.

3) Which documents should I prepare first?

Start with ID, address proof, recent photo, and bank statements. Then add product‑specific items like property title or vehicle quotation. Completing core items early prevents delays later.

4) Can I adjust the minimum income benchmark?

Yes. Use the optional override field to set a custom minimum income for your scenario. The tool will compare your income against that benchmark for the income portion of the score.

5) Why do tax filings affect the checklist?

Tax records help validate income consistency and business activity. If filings are missing, lenders often request explanations or alternative documentation, which can increase processing time.

6) How do the CSV and PDF exports differ?

CSV is structured for internal tracking, audits, and team workflows. PDF is a readable summary suitable for email submissions or branch intake, capturing score, completeness, and missing items.