📝Checklist Documentation for Refinancing

List of Items Required:

• Driver's License
  
• Copy of the Note - for the mortgage being refinanced.
• Most Recent Mortgage statement - for the mortgage being refinanced.
  
  • Include a copy of the statement for a 2nd Mortgage/HELOC if it is being paid off or re-subordinated.
• Owner's Title Insurance Policy
• Survey
  
• Most Recent Paystubs - Covering the last consecutive 30 day period.
• W2s from Prior 2 Years
  • W2s are a part of a complete tax return and the lender will request to see all of the W2s filed with each return you are providing.
  • This includes W2s for a non-borrowing spouse if they are on the returns filed.
• Personal Tax Returns from Prior 2 Years
  
  • Include all pages/schedules filed with each return.
  • Make sure that the tax returns are signed.
  • If the current tax year is on extension. Please provide a copy of the extension and the prior 2 years filed returns.
• All K1s associated with the personal tax returns being provided
• Self-Employed Borrowers
  • For any company you have 25% or more ownership:
    • Most Recent 2 Years Business Returns
      • Must be Signed and Dated
    • Prior Year to Date P&L
      • Signed and dated
      • Unaudited
      • Does not need to be prepared by an accountant
• Most Recent 2 Months Bank Statements
  • Must show assets to cover down-payment, closing costs & reserves.
  • Include All pages for each statement.
  • If the statement says Page 1 of 5, include all 5 pages - this will be a requirement in underwriting.
• For all Propertis Owned/Name On Title
  • Mortgage Statement
  • HOA payment slip (if applicable)
  • Tax Bill (if not escrowed as part of mortgage)
  • Insurance Dec. Page - showing premium amount (if not escrowed as part of mortgage)
• Point of Contact
  • Title Company/Attorney
  • Insurance Agent
  • Condo Association (if applicable)
  • Contact for entry for the appraiser
  • Employer Contact - For Verification of Employment (Doesn't apply to self-employed borrowers with > 25% ownership)
  • Accountant - Self Employed borrowers only

For Alternative Income Sources:

• Rental Income
  • Fully executed lease
• Alimony or Child Support
  
  • Divorce Decree/Separation Agreement stating amount received & proof of continuation for at least 3 years.
  • Canceled checks/deposits/bank statements showing that you have been receiving it for the past 3 months.
• Social Security, Disability, VA Benefits
  • Copy of the awards letter from the agency/organization
  • Most recent 2 months bank statements showing receipt in your bank account
• Dividend/Interest/Trust Income
  • Last 3 years tax returns - all pages and schedules.
  • Most recent 2 months bank statements to confirm likely contribution of the income for the next 3 years.
  • Copy of the Trust Agreement (signed)

If a Gift will be Used For Part of the Down-Payment:

• Proof of Transfer of the Gift into your Account
  • Provide a copy of the wire confirmation or both sides of the cancelled check.
• Updated Bank Statement/Transaction Summary
  • Showing the gift has cleared on the account the gift was transferred to.