What documents are required to refinance?
Your documentation allows underwriters to verify that you’re a good fit for the loan option you’ve selected. Here is a list of some of the most common documents that your loan officer may ask for:
- Proof of income – You will be asked to provide pay stubs (typically for the past 30 days) in order to verify income. Self-employed borrowers may be asked for different documentation.
- Copy of homeowners insurance – Verifying that your property is insured, or will be insured, is important to all lenders.
- Copies of your W-2 forms – Providing your W-2 forms will give your lender a much broader picture of your financial picture.
- Copies of asset information – Lenders are required to verify that they have the funds available to cover the various expenses of the loan. You may be asked for checking, savings, and 401(k) statements, as well as investment records for mutual funds or stocks.
- Copy of title insurance – A copy of your title insurance is important to help your lender verify your taxes, the names on the title, and the legal description of the property.
Your lender will also need to pull your credit report as a part of the refinance process, so have your Social Security number handy when it’s time to apply.