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It would be nearly impossible to list all of the documentation that could be required for a refinance due to the nearly unlimited situations that could arise. I will provide a list of the most common categories of documentation that are required to complete most refinances:
Income Documentation – Most lenders will require evidence of the most recent month of income and the most recent past 2 years of income. For most borrowers, this means 2 years of W-2s and current paystubs covering the most recent 30 days. For self employed or highly commissioned/bonused employees, it would mean a complete set of 2 years federal tax returns and possibly a recent Profit & Loss statement.
Asset Documentation – Lenders will want bank statements for the past 2 months and retirement account statements for the most recent quarter.
Recent Mortgage Statement(s) – Statements for any mortgages or Home Equity Lines of Credit on the property
Insurance Information – Either contact information for your agent or customer service or a declaration page showing the same.
Copies of your Driver’s License and Social Security Card – Normally the lender needs to verify your identity and your citizenship status.
A Signed Disclosure Packet – Your broker/lender will require a set of signed disclosures outlining the loan for which you applied.
Depending upon the type of refinance and your individual circumstances, additional documentation may be required to complete the loan process.
What information is required to be submitted to the mortgage company when refinancing your home?