Documents Needed To Refinance

Knowing what are the documents needed to refinance a mortgage is essential.

Refinancing your current mortgage may have many different benefits. A lower interest rate, a shorter term, or possibly cash-out funds to improve your home. No matter what the benefit is you will need to know beforehand what are the documents needed to refinance a mortgage.

Quickly jump to the section that matters to you;

Below we list the documents needed to refinance your home. Not every situation is the same and the below list is meant as a guide. An underwriter may request additional documentation based on your specific situation. If you have any questions please don’t hesitate to ask.

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Documents Needed To Refinance Your Home

I’m going to breakdown the documents needed to refinance your home into three categories; W-2 Employee, Self-Employed and Retired. The reason is that each group has to provide a slightly different set of documentation.

Generally speaking; refinances usually take 3-4 weeks from completed application to signing loan documents. In the case where there is a subordination of a 2nd mortgage or an Equity Line of Credit, the time frame might be more towards 4-6 weeks.

To ensure a fast mortgage process it’s a good idea to gather your documentation prior to moving forward (or at least the important docs). The documents needed to refinance your home include some very basic items you probably can find in minutes.

W-2 Employee Documentation

If you are a W-2 Employee here is a basic list of documentation you’ll need to refinance your current mortgage:

  • Most recent W-2 you received (possibly the most recent two)
  • Paystubs that cover a months period of time
  • Contact information for your homeowners insurance agent
  • Copy of your monthly statement for your current mortgage. If you have an Equity Line or a fixed rate second mortgage you’ll need to provide a statement for that as well.
  • Contact information for your HOA (if you have one).

Some additional documentation that may be required:

  • Liquid assets: Some loans require the borrower have liquid asset reserves and if so you’ll need to provide the most recent two statements (all pages). In some cases a mortgage company can do an asset verification. If so you do not need to send in your asset documentation.
  • Tax returns: If you own rental property, have a side job or if you receive partnership income you may have to provide your most recent two years of tax returns.
  • Subordination: If you have an Equity Line of Credit or a fixed rate second mortgage and you want to subordinate you’ll have to provide a copy of the Note from when you secured the original line or loan.
  • Legal Separation or Divorce: If you are legally separated or divorced you’ll need to provide your separation or final divorce documentation.
  • Bankruptcy: If you’ve filled for Bankruptcy in the last seven years you may have to provide Bankruptcy documentation to the underwriter.

Self-Employed Documentation

Documents needed to refinance your home

If you are Self-Employed here is a list of documentation you’ll need to provide:

  • Your most recent tax return; personal and business with all scheduled (federal only). You may have to provide two years.
  • A P&L statement for the current year; possibly one for the prior year as well (depends on when you file your returns).
  • Contact information for your insurance agent
  • Copy of your monthly statement for your current mortgage. If you have an Equity Line or a fixed rate second mortgage you’ll need to provide a statement for that as well.
  • Contact information for your HOA (if you have one).

Some additional documentation that may be required:

  • Liquid assets: Some loans require the borrower have asset reserves and if so you’ll need to provide the most recent two statements (all pages). In some cases a mortgage company can do an asset verification. If so you do not need to send in your asset documentation.
  • Subordination: If you have an Equity Line of Credit or a fixed rate second mortgage and you want to subordinate you’ll have to provide a copy of the Note from when you secured the original line or loan.
  • Legal Separation or Divorce: If you are legally separated or divorced you’ll need to provide your separation or final divorce documentation.
  • Bankruptcy: If you’ve filled for Bankruptcy in the last seven years you may have to provide Bankruptcy documentation to the underwriter.

Retired Documentation

If you are retired here is a list of documents needed to refinance your home:

  • If you receive Social Security income than proof of benefit and possibly proof of receipt (bank statement the money is deposited into).
  • If you receive pension income you’ll need documents similar to SS income; proof of benefit and possibly proof of receipt.
  • If you own rental property then the two most recent years of tax returns.
  • Interest, dividend and capital gains income: This requires two years of tax returns and proof that the current level of income will continue for at least three years.
  • Asset Depletion is another way to qualify. For Asset Depletion you’ll need two years of tax returns and proof of liquidation and that the “income” will continue for at least three years.
  • Contact information for your HOA (if you have one)

Possible Additional Documents Needed To Refinance Your Home:

  • Liquid assets: Some loans require the borrower have asset reserves and if so you’ll need to provide the most recent two statements (all pages). In some cases a mortgage company can do an asset verification. If so you do not need to send in your asset documentation.
  • Tax returns: If you own rental property, have a side job or if you receive partnership income you may have to provide your most recent two years of tax returns.
  • Subordination: If you have an Equity Line of Credit or a fixed rate second mortgage and you want to subordinate you’ll have to provide a copy of the Note from when you secured the original line or loan.
  • Legal Separation or Divorce: If you are legally separated or divorced you’ll need to provide your separation or final divorce documentation.
  • Bankruptcy: If you’ve filled for Bankruptcy in the last seven years you may have to provide Bankruptcy documentation to the underwriter.

Rental Properties

A quick note about rental properties. If you own rental properties please be prepared to provide the following:

FHA Streamline Refinance Documentation

If you have a FHA home loan now and want to refinance into a new FHA home loan you’re in luck. The FHA Streamline Refinance loan program is one of the best refinance loan programs in the industry. No income documentation and no appraisal. Super fast and super easy!

Five Minute Loan Application

Who has one of the fastest loan applications in the country?

We do. If you would like to apply online please use our easy and quick online mortgage application. In most cases, it takes less than five minutes to complete.

At JB Mortgage Capital, Inc. we offer industry low mortgage rates, personal one-on-one service, and fast closings. We have an “A+” rating with the Better Business Bureau and we’re “AAA” rated with the Business Consumers Alliance.

From Conventional to Government loans such as the FHA home loan program; we have a wide variety of lending options for our clients. And we’re never too busy to answer questions. You can contact us through our website or you can call Loan Officer Kevin O’Connor directly: 1-800-550-5538.

Loan Officer Kevin O'Connor

About The Author

Loan Officer Kevin O'Connor has over 16 years of experience as a Mortgage Loan Originator and is licensed with the state of California and the Nationwide Mortgage Licensing System. He has a top rating with the Better Business Bureau, Google, Yelp, and Zillow. CA DRE #01499872 / NMLS #247447

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