Jumbo Loans


My goal is to provide you with exceptional service throughout your loan process.

We provide this checklist, so you know what you may be asked to provide when applying for a

purchase mortgage or refinancing your home.


        Full legal name, Social Security number and birthdate for all borrowers on application

        Phone number, email address, and current and former residential mailing addresses over the last two years

      Driver’s License or Government-issued photo ID for all borrowers on application

        Name, addresses, and phone numbers of all employers over the last two years


      Primary and secondary income amounts and sources

      Name, addresses, and phone numbers of all employers over the last two years

      Pay stubs covering the last 30 days

      Written explanation if employed less than two years or employment gap exists within the last 2 years


      Federal tax returns, personal and business, including all Schedules, K1’s, etc., for the past 2 years

      Profit and loss statement — year-to-date


      Copy of Signed Purchase Agreement-All pages and all counteroffers

      Closing Agent contact information

      Copy of Deposit Receipt

      Contact info for Listing and Selling Agent

      Address of property being purchased, year built, estimated down-payment amount and purchase       price

      Estimates of annual property taxes, homeowner’s insurance, and any homeowner association dues


      Values of bank, retirement (401k, IRA), investment (Stocks, CDs), and other asset accounts

      Monthly debt obligations

      Last 2 months ‘statements for all accounts listed on the application (include all pages of the   statement, including ones that are blank)

      Explanation and documentation for any large or unusual non-payroll deposits or withdrawals


      IRS Form 4506-T — Request for tax transcript, completed, signed and dated

      W-2s for the past two years

      Federal tax returns (1040s) for the past two years (all pages are needed)


        Mortgage Statement(s) for all existing mortgages for Primary Residence

      Homeowner’s Insurance Declaration page

        Homeowners Association Statement (if applicable)


      Credit explanation letter for late payments, collections, judgments, or other derogatory items in         credit history

      Bankruptcy/discharge papers for any bankruptcies in credit history


        Social Security Award Letters

        SSA-1099 for the past two years-all borrowers on application

        Pension Award Letters


        Signed rental agreement(s) - all properties

        Mortgage Statement(s) – all properties

        Homeowners Insurance – all properties

        Tax Bills – all properties


        Divorce Decree

        Separation Agreement

        Proof account paid

        DD-214-VA loans only

        Certificate of Eligibility- VA loans only



·         Do Stay Current on Existing Accounts

Like your mortgage and car payments, one 30-day late notice will cost you.

·         Do Continue to Use Your Credit as Normal

Red flags are raised easily with the credit scoring system. If it appears that you are changing your pattern, it will raise a red flag and your score could go down.

·         Do Keep Your Originals

Update paystubs and bank statements if more than 30 days old prior to closing.

·         Do Provide Documentation for the Sale of Your Current Home

We will need a copy of your sales contract and closing statement (a.k.a. HUD I settlement statement) and documentation of your proceeds.

·         Do Contact Us If Your Employment or Marital Status Changes

If you change employment, get a raise or have a leave of absence, we need to know. If you get married, notify us.

·         Do Contact Your Loan Officer with Any Questions


·         Don’t Apply for New Credit of Any Kind

If you do, that company will pull your credit report and this can have an adverse effect on your credit score. Likewise, don’t establish new lines of credit for furniture, appliances, computers, etc.

·         Don’t Pay Off Collections or Charge-Offs

Generally, paying off old collections causes a drop in your credit score. Refrain from making payoffs unless you are specifically asked to in order to secure your new loan.

·         Don’t Close Credit Card Accounts

If you close accounts, it can affect your ratio of debt to available credit, which has a substantial impact on your credit score.

·         Don’t Make Any Adjustments or Transfer Your Assets Don’t change investments, close accounts,             open new accounts or substantially change your asset picture without contacting us first.

·         Don’t Make Large Unexplainable Deposits into Bank Accounts

Any non-payroll deposit will need to be explained and documented for underwriting. Cash deposits cannot be used.

·         Don’t Make Changes to Your Employment

Employment stability is a big factor in the underwriting process. Quitting or changing jobs can

endanger your loan approval.



Asset/bank statements

Statements from personal and/or business checking, savings, brokerage, retirement, and money market accounts that are requested in order to verify assets, income, or the sources of large deposits, excluding paychecks. Typically, borrowers are asked to send statements from the previous two or three months.

Bankruptcy discharge papers

Legal proof of the discharge of any bankruptcies in a borrower’s credit history. Bankruptcy documentation also may be requested to verify that the mandated waiting period has been satisfied.

Credit explanation letter

A written letter of explanation, statements, and verification to document or describe a variety of special credit situations. Examples include explaining derogatory credit or other financial hardship, including bankruptcy.

Federal tax returns (1040s)

May be requested, along with accompanying schedules, to verify income derived from a variety of sources, including:

•  Self-employed income, contract income

•  Employee business expenses, including car allowance

•  Rental income

•  Pensions, Social Security or retirement income

•  Royalty payments, interest or dividend income

•  Seasonal income/ unemployment compensation

•  Capital gains, notes receivable

•  If employed by a relative, family business, or someone involved in the transaction

Government-issued photo ID

Includes a driver’s license, state-issued photo identification card, or passport. In certain cases, borrowers may also be asked to provide a copy of a Social Security card.

Homeowners insurance

Real estate insurance policy to protect against loss caused by fire, vandalism, some natural disasters, personal injury, and theft.

IRS Form 4506-T

Request for Tax Transcript form; required on all applications. Gives permission to verify the income reported to the IRS and is usually requested for the previous one or two years.

Judicial decree or court order

Verification of a legal ruling that impacts a borrower’s assets or debt obligation. Examples might include proving that an obligation to make certain debt payments has been assigned to another person or validating the transfer of property ownership.

List of all business debts

Accounting of business-associated debts for which a borrower is personally responsible.

Pay stubs

Documentation of compensation from the employer, either monthly or bi-weekly. Online pay stubs must be signed by a company representative.

Payment history

Documents verifying that a borrower without a traditional credit history can manage credit and repay creditors as agreed. Examples of suitable documents include evidence of regular payments for public utilities, phone, cable TV, and car insurance.

Profit and loss (P&L) statement

A summary of the revenues, costs, and expenses incurred during a specific period of time. Such a statement demonstrates the ability of a company to generate profit by increasing revenue and reducing costs.

Purchase contract

A signed agreement between the buyer and seller describing all the terms of a real estate purchase transaction. Also known as a sales contract.

Source of funds

Written documentation to state the origins of any large deposits on asset statements, excluding paycheck deposits.


Wage and Tax Statement. A borrower may be asked to provide a W-2 from the most recent year or two years to verify monthly income.

Written explanation

A letter of explanation explaining an employment gap or, if employed less than two years, employment history.