Qualification Check
Am I Qualified for a Jumbo Loan?
Take our 7-question qualification quiz to see how strong your jumbo loan application would be, plus get your personalized document checklist.
Question 1 of 7
What is your credit score range?
Jumbo Loan Document Checklist
Have these documents ready to speed up your application process.
Income Verification
- 2 years of W-2 forms
- 2 years of federal tax returns (all pages)
- Most recent 2 months of pay stubs
- Social Security award letter (if applicable)
- Pension/retirement income documentation
Asset Documentation
- 2-3 months of bank statements (all pages)
- Investment/brokerage account statements
- Retirement account statements (401k, IRA)
- Gift letter and donor bank statements (if using gift funds)
- Proof of reserves (6-12 months of payments)
Property Information
- Signed purchase agreement/sales contract
- Property listing details
- HOA information (for condos/townhouses)
- Rental income documentation (if applicable)
Personal Identification
- Government-issued photo ID (driver license or passport)
- Social Security number
- Current address and 2-year address history
Self-Employed (Additional)
- 2 years of business tax returns
- Year-to-date profit and loss statement
- CPA letter confirming business status
- Business license or articles of incorporation
- 12-24 months of business bank statements
Common Disqualifiers & How to Fix Them
Credit score below 700
Pay down credit card balances to under 30% utilization, dispute any errors on your credit report, avoid new credit applications for 6+ months. Every 20-point increase can save 0.125-0.25% on your rate.
Insufficient reserves
Accumulate 6-12 months of mortgage payments in liquid assets. Retirement accounts (401k, IRA) count at 60-70% of value. Stocks and bonds count at 70% of value.
High debt-to-income ratio
Pay off car loans, credit cards, or student loans before applying. Even paying off a $400/month car payment can increase your purchasing power by $60,000-$80,000.
Employment gaps or recent job change
Lenders want 2 years of stable employment. If changing jobs, try to stay in the same industry. Have a written offer letter with salary details from your new employer.
Self-employment income declining
Lenders average 2 years of income. If your most recent year shows lower income, consider waiting until you can demonstrate income stability or growth. Some lenders offer 12-month bank statement programs.
Recent bankruptcy or foreclosure
Waiting periods apply: 4-7 years for Chapter 7, 2-4 years for Chapter 13, 7 years for foreclosure. Rebuild credit aggressively during the waiting period. Some portfolio lenders may have shorter waiting periods.