Mortgage Tips


This page will be updated on a monthly basis to help people who are looking for a Mortgage be it Purchase or Refinance.  Please bookmark this page.

December 2014

Maternity Leave should not be a big issue.  However it is.

Most underwriters will need proof that you returned to work and give them 1 month paystubs for the loan to be funded.  This means you can begin the loan process but the underwriter will condition the file to fund only after seeing 1 month paystubs.

November 2014

Underwriters like to see deposits into your account, so that they can question it.  Why give them that chance?  For Refinance you just need an account with only about $1000 especially if you are going for a Zero Cost Financing.   So just give your Loan Officer a Statement from a Bank which has $1000. If the YSP can meet the closing costs then you do not have to show bank statement.  All my refinancing is at  Zero Cost.  For Purchase open a new bank account and deposit your down payment into that account.  However make sure that money remains in the same account for 3 months because you have to provide 2 month bank statements.

Zero cost does not mean adding the closing cost to the loan.  However this can be done and it is perfectly legal subject to limitations.

Closing Cost Calculator: For a Purchase Transaction it is difficult to get a correct estimate without knowing the details of the Purchase Contract, County and numerous other factors. Please email me for an estimate.


I have some very special Jumbo programs.  Please email



Chacko Varghese

NMLS 327086