Refinance
The refinancing checklist: 9 things to gather before you call
A refinance moves faster when the paperwork is ready. Gather these nine items and most of the work is already done.
Published
Read time
4 min read
By
Mei Chen
Refinancing asks for many of the same documents as your original loan, plus a few about the mortgage you already have. Having them in one folder can shave a week or more off the process.
The checklist
Your most recent mortgage statement
Homeowners insurance declarations page
Pay stubs covering the last 30 days
W-2s or 1099s for the last two years
Federal tax returns for the last two years if you are self-employed
Two months of bank and retirement account statements
HOA contact details and your latest HOA statement, if any
A list of monthly debts with current balances
Photo ID for every borrower on the loan
Before you gather anything
Ask what you want the refinance to do: lower the payment, shorten the term, remove mortgage insurance or take cash out. Then check the break-even: closing costs divided by monthly savings. If you will move before that date, a refinance probably is not worth it.
Send us your current statement and we will run the break-even for free before you commit to anything.
General education, not advice
This guide explains how mortgages generally work. Any rates and payments in examples are sample figures for illustration, not a commitment to lend. Rules change and your situation is your own, so talk to a licensed loan officer before you decide.
