Buying a high-value home with a jumbo loan, step by step
Step 4: the paper trail
In brief
Expect to provide two years of federal tax returns, recent pay stubs or business statements, W-2s or 1099s, and complete statements for every account you list. Self-employed buyers and those with bonus, commission or investment income are often asked for more detail. Organizing these before you apply can shorten underwriting.
Last reviewed against the primary sources listed below.
A starting folder
- Tax returns, all schedules, two years.
- Pay stubs and W-2s, or business returns and statements.
- Full bank and investment statements.
- Gift letters and donor statements, if any.
- Explanations for large deposits.
Buyer questions
Why do jumbo lenders ask for so much paperwork?
Jumbo loans are not bought under the conforming program rules, so many lenders keep them and review each file closely.