What documents are needed to refinance?
The documents needed to refinance are similar to those needed to initially obtain your loan. You will need:
Proof of income:
- Recent pay stubs
- Tax Returns
Proof of coverage:
- Homeowner’s Insurance
- Title Insurance
Documentation of Assets:
- Cash & cash equivalents: savings accounts, checking accounts, money markets and certificates of deposit
- Tangible assets: physical property such as cars, properties, boats, jewelry, etc.
- Intangible assets: nonphysical assets such as stocks, bonds, IRAs, 401(k)s
- Liquid assets: cash or things that can be sold or traded for cash quickly
- Fixed assets: items that may take longer to convert to cash and may lose value in the process
- Fixed-income assets: investment money that is lent for interest such as certificates of deposit, securities, and government bonds
Your Loan Officer will run a credit check and may also ask for a current appraisal of your home.