Refinance Checklist

When you refinance, certain documents and information will help the process move forward more quickly. Below are listed some of the more common documents needed to refinance. The more information you have on-hand, the faster your refinancing will go.

 

Income and Employment Information

  • Most recent month’s pay stubs
  • W-2 forms (last two years)
  • If you reported business income or loss - copies of Federal tax returns (last two years)
  • If you own a business which files its own tax returns, copies of business Federal tax returns (last two years)
  • If you did not file tax returns on time and requested extension - copy of tax return extension

Assets Information

  • Bank statements (checking, savings, stock accounts, retirement plan), complete with all pages, for the last one or two months (depending on program requirements)

Insurance Information

  • Homeowners insurance (declarations page)

Existing second loan or equity line (if applicable)

  • If existing second loan or line is being retained (subordinated to the new first loan):
    - Second loan (or line) Note (a.k.a. Home Equity Agreement)
  • If existing second loan or line is being paid off from new loan proceeds under rate and term (no cash out) refinance transaction:
    - Settlement statements for purchase closing, as proof that the second loan or line being paid off was obtained at time of the purchase simultaneously with the first loan
  • If existing second loan or line is being paid off with new loan proceeds under cash-out refinance transaction:
    - No additional documentation related to existing second loan or line is required