Loan paperwork

THE RIGHT STUFF Gathering necessary documents in a timely matter makes for a smoother closing.

The key to any home loan approval is documentation. And the amount of paperwork asked for by lenders these days has never been higher. Tax returns, bank statements, paystubs and 401k statements are just the beginning.

In reality, there are many times where lenders ask for things that, as consumers, we end up scratching our heads or sometimes openly questioning. The unfortunate reality considering the high average loan size in our area is that aggressive documentation requests are now the “new normal” for getting a home loan. If you are borrowing for a jumbo loan, the documentation requests can seem like an avalanche.

Here are some ways to help: first, resign yourself early that the requests will come often, and some won’t make sense. Second, move quickly to turn the paperwork in when requested. Loan officers and underwriters are oftentimes embarrassed to ask for what the investors require, but if all parties work together it will ease the stress and get us to the closing table on time.

Jayson Stebbins is a 23-year veteran of the mortgage banking industry. He grew up in Morgan Hill and currently lives in Gilroy. He is the local branch manager of Guild Mortgage. Contact Jayson and his team at (408) 825-0220 or at

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