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.