Prepare to Refinance – Checklist

 

The Basic List:

  • Photo ID (valid drivers license or passport) for all borrowers
  • Most recent month of paystubs
  • Most recent two months of bank statements – all pages for savings and checking
  • Most recent two years of W2s, 1099s, and K-1s
  • Most recent two years of IRS tax returns –all schedules
  • Copy of current mortgage statement
  • Copy of current home equity or 2nd mortgage statement if applicable
  • Copy of current homeowners insurance declarations page
  • Most recent homeowners association statement or coupon for payment
  • Copy of final divorce decree if divorced

Add these items if you have ownership in a corporation or limited liability partnership:

  • Most recent two years of S corporation, C corporation, or LLC/LLP returns
  • Most recent two years of K-1s

Add these items if you own rental property:

  • Copy of all lease agreements
  • Copy of current mortgage statement(s) for rental properties
  • Copy of current home equity or 2nd mortgage statement(s) for rental properties – if applicable
  • Copy of current homeowners insurance declarations page(s) for rental properties
  • Most recent homeowners association statement(s) for rental properties – if applicable

The list shown above is intended to cover most if not all of the supporting documents that you should have ready before you apply for a refinance mortgage. These are the basic items needed, and may vary from bank to bank or depending on your situation. Having the items in this list ready to go prior to applying for your mortgage will help you be better prepared to take control of the process and enjoy a smooth refinance transaction.