Loan officer

Phil Ybarra

Originating Branch Manager

NMLS: #250040
Licensed in: CA
Phone: (831) 840-6113
Email: pybarra@hancockmortgage.com
Office: 9057 Soquel Drive Bldg. B Suite E, Aptos, CA, 95003

Apply with Phil Call Phil

Walking through a mortgage file together

About

Work with a person, not a queue.

Phil Ybarra is an Originating Branch Manager with Hancock Mortgage (NMLS #250040), licensed in California. He brings leadership and expertise to help California clients reach their homeownership goals.

Phil works with Hancock Mortgage, a DBA of Gold Star Mortgage Financial Group, Corp., NMLS #3446. Confirm current individual licensing on NMLS Consumer Access before you rely on a listed state.

The work

A conversation, a file, then keys.

A real conversation
The file, in order
Keys at the end

A well-lit home at dusk, the point of the mortgage

The house is the point

Start with Phil.

Phil stays on the file, not a rotating queue.

Meanwhile

Useful pages while you talk.

Working through a monthly number at home

Numbers

What would a payment look like?

Illustration only, not this officer’s quote.

A couple moving into a home they closed on

Process

What to know before you buy

How the agent, the officer, and you keep the file moving.

Documents

What to gather

A starting list. Your officer will tell you what this file needs.

A family gathered on the porch of their home

Ready when you are

The house is the point.

Whether you’re buying your first home, moving into your next one, refinancing, or exploring your options, we’re here to help you figure out the next step.

Find a Loan Officer Contact Us

Who you are

Every borrower on the loan needs this. Bring originals to closing even if you already uploaded copies.

Government photo IDDriver’s license, state ID, or passport. Names must match Social Security and the application. If you recently married or changed a name, have the legal paperwork ready.
Social Security number for every borrowerYour officer uses this to pull credit and match tax transcripts. If you have an ITIN instead, say so at the first conversation. Do not wait for underwriting.
Two-year address historyWhere you have lived, month and year. Renters should keep a landlord name and phone handy. Gaps are easy to explain early and expensive to explain late.

W-2 income

Pay, not a job title. Overtime, bonus, and commission usually need a two-year pattern, not one good month.

Paystubs covering the last 30 daysAll jobs that will count. Year-to-date totals must be readable. If you are paid weekly, that is more than one stub. Do not crop the pages.
W-2s for the last two yearsEvery employer in that window. If you switched jobs, keep both sets. A new job with a short history may also need an offer letter and start date.
Offer letter if you started (or will start) a new jobStart date, pay, and whether the role is salaried or hourly. Changing jobs, quitting, or going 1099 mid-file can stop a closing. Ask before you resign.
Two-year history if you use overtime, bonus, or commissionLenders average variable pay. One strong quarter does not replace the history. Ask what will count before you shop at the top of your letter.

Other income that might count

Only document what you actually want to use. Unreported cash side work usually does not help a mortgage file.

Two years of personal federal tax returns, all pages and schedulesIf self-employedSelf-employed, 1099, or anyone who owns 25% or more of a business. Bring the real returns. Write-offs that shrink taxable income also shrink qualifying income.
Two years of business returns (if you own 25% or more)If self-employedPlus a year-to-date profit-and-loss if your officer asks. Recent entity changes, large equipment purchases, or unpaid taxes should be said out loud now.
Recent business bank statementsIf self-employedOften two months, all pages. Mixing personal spending through the business account makes underwriting slower, not smarter.
Award letters for Social Security, pension, or disabilityCurrent amount and whether the benefit has a defined end date. Direct-deposit history on bank statements helps confirm it is still arriving.
Court order and proof of receipt for child support or alimony you receiveA decree without deposits is usually not enough. If you pay support, that obligation still has to be counted as a debt even if you would rather not mention it.
Leases and tax returns if you will count rental incomeA spreadsheet of hoped-for nights is not income. Documented leases and Schedule E history are. Tell occupancy truthfully: primary, second home, or investment.

Cash to close and reserves

Down payment is not the same as cash to close. You also need closing costs, and many files need money left in the account after funding.

Two months of checking and savings statements, all pagesEvery account that will fund the loan or show reserves. Include blank pages. Missing page 4 of 6 is a classic delay.
Retirement statements if those accounts are part of the storyUsed for reserves or, less often, cash to close. Liquidating a 401(k) has tax and timing consequences. Ask before you sell anything.
Paper trail for large or unusual depositsGifts, tax refunds, sale of a car, transfers between your own accounts. A deposit without a story becomes a condition. Move money with a reason, then keep the proof.
Gift letter, donor ability, and proof the money movedIf using a giftAsk before the funds leave the donor’s account. A screenshot after closing week is a painful way to learn the rules. Eligible donors vary by program.
Proof of earnest money (check, wire, or receipt)Underwriting needs to see where that deposit came from and that it cleared. Keep the contract page that shows the amount.
If you are selling another home, the contract and estimated proceedsClosing one house to buy another is a sequenced file. Your officer needs both calendars, not just the purchase address.

Credit and monthly debts

You do not pull your own “official” mortgage score. You do need a clean picture of what you owe.

List of monthly debts you already know aboutCars, student loans, credit cards, child support you pay, and any co-signed notes. The credit report still gets pulled. Surprises in collections or medical bills are better named on day one.
Lift any credit freeze before applicationA frozen file cannot be pulled. Unfreeze with Equifax, Experian, and TransUnion if you locked them after a data breach.
Paperwork for bankruptcy, foreclosure, short sale, or a serious late-pay stretchIf this is in your historyDischarge papers, explanations, and dates. Waiting until a condition hits under contract is how files miss lock windows.
Divorce decree or separation agreement if it affects income, debt, or the houseIf this is in your historyWho is obligated on a mortgage, who receives support, and whether a former spouse must be released. Incomplete family-law paperwork stalls otherwise clean files.

The house you are buying

Financing follows the property. A condo, a new build, or a manufactured home can change the program, not just the rate.

Fully signed purchase contract and every addendumPrice, closing date, seller credits, and who pays what. Send it the day it is executed. Verbal “we agreed” is not a file.
Agent, title, and builder contactsYour officer coordinates appraisal and conditions with people who have last names and phone numbers. Put them in one email so nobody is guessing.
HOA or condo documents if the property has eitherIf HOA or condoQuestionnaires, budgets, insurance, and occupancy mix can decide whether the loan is even eligible. Ask early. Do not assume “it’s a condo so FHA is fine.”
Homeowners insurance quote (and flood if the zone requires it)Escrow needs a real premium, not a guess from last year’s listing. Coastal, older-roof, and high-deductible policies can change cash to close.
Builder contract, specs, and a realistic completion dateIf new constructionNew construction files live and die on the calendar. Rate locks expire. Change orders that alter value or completion should go to your officer the same day.

If you are using a VA loan

Eligibility is a fact, not a slogan. Confirm it before you shop or refinance as VA.

Certificate of Eligibility and service documentation (often DD-214)If VAYour officer can often pull a COE with you. Entitlement, occupancy, and remaining entitlement on another VA loan all matter. Do not shop “as VA” until eligibility is confirmed.

The loan you already have

A refinance is a new loan. The current servicer, insurance, and taxes still have to be proven.

Most recent mortgage statementServicer name, account number, unpaid principal, and escrow. If you have a second lien or HELOC, include that statement too.
Current homeowners insurance declarations pageCoverage, premium, and mortgagee clause. Lenders need the policy to survive the new loan. Do not cancel the old policy until you are told to.
Property tax bill or county assessmentEscrow will be re-established. An outdated tax number makes the new payment look prettier than it is.
A one-sentence reason you are refinancingLower payment, shorter term, drop mortgage insurance, or cash-out for a named purpose. Mixing goals without saying so is how people close a loan they like less.
HOA contact and current assessment if the property has oneIf HOA or condoSame as a purchase: eligibility and insurance still get reviewed. A special assessment should not be a closing-day surprise.

While the file is open

Most denials late in the process are self-inflicted. Treat your job, credit, and accounts as part of the contract.

Do not finance a car, furniture, or a boat until after closingA new payment can break debt-to-income the week of underwriting. If you must, ask first and wait for a clear answer.
Do not open new credit cards or close old ones “to help the score”Utilization and average age of accounts can move the wrong direction. Let the file finish. Cosmetic credit projects belong after keys.
Do not bounce payments or overdraft the accounts in the fileNSF marks and last-minute cash gymnastics look like instability. Keep the money you said you had, where you said it was.
Ask before you change jobs, pay structure, or business entitiesPromotions can be fine. Going from W-2 to 1099, unpaid leave, or a brand-new company usually is not, at least not on this closing date.

Closing week

Read the Closing Disclosure. Confirm wire instructions by phone using a number you already know, not a number in a new email.

Read the Closing Disclosure when you get itClosing weekYou generally have three business days before signing on a purchase. Names, loan amount, cash to close, and rate should match what you were told. Questions belong that day, not at the table.
Arrange certified funds or a wire for cash to closeClosing weekAsk the settlement agent how they take money. Mortgage wire fraud is real: call a known number to confirm instructions. Never trust a last-minute email that changes the account.
Have the insurance binder sent to the lender and titleClosing weekCoverage must be effective at funding. A quote is not a binder. Confirm the mortgagee clause is correct.
Bring the same photo ID you uploadedClosing weekExpired IDs delay signings. If two borrowers are on the loan, both usually need to be present or have arranged a power of attorney the lender already approved.