Refinance Checklist
Refinance Application Checklist
Track the information as well as the documents you may be asked to provide when you apply.
Information
- Full legal name, Social Security number, Date of Birth
- Primary phone number, email address, current and former residential/mailing addresses over the last two years
- Gross income amount, including primary, second and part-time jobs, as well as overtime, bonuses, and
commissions, if applicable - Secondary income sources and amounts, if you want them considered for repaying this loan – including retirement or veteran’s benefits, disability payments, alimony, child support, and rental or investment income
- Name, address, and phone numbers of all employers over the last two years
- Value of each bank account, retirement, investment, and other asset accounts
- Current expenses including housing, credit card and loan payments, child support and other obligations
- Original purchase price, year home was purchased, current estimated market value
- Total outstanding balance of all loans secured by the property
- Reason you are refinancing and the amount you need to borrow
Documents Your home mortgage consultant will ask you to provide some or all of the documents listed below. Be prepared to provide additional documents as your application moves further along the process.
Income / Employment / Assets
- IRS Form 4506-T — Request for Tax Transcript, completed, signed and dated
- Pay stubs covering the last 30 days with year-to-date information included (for all jobs and applicants)
- W-2s for the past two years
- Federal tax returns (1040s) for the past two years
- Written explanation if employed less than two years or employment gap exists within the last two years
- Asset / Bank statements — Most recent two months’ statements for all accounts listed on the application — all pages
Credit
- Credit explanation letter for late payments, collections, judgments or other derogatory items existing in credit history
- Source of funds documentation for any large deposits on asset statements (outside of payroll or gift fund deposits)
- Judicial decree or court order for each obligation due to legal action (example: lawsuit, judgment, child support)
- Bankruptcy / Discharge papers for any bankruptcies existing in credit history
- Payment History for public utilities, phone company, cable, car insurance, and other expenses
If Self-employed
- Federal tax returns (personal as well as business returns) — complete copies for the last 3 years
- Profit and loss statement — year-to-date
- List of all business debts
Other
- Driver’s License and Social Security card — legible copies
- Hazard (Homeowner’s) insurance information including agent’s name and phone number
