The specific documents you’ll need for refinancing a home loan can vary depending on the lender and your individual financial situation. However, here are some common documents that lenders typically require when you apply for a refinance:
- Proof of income: You’ll need to provide documentation of your income, such as pay stubs, W-2 forms, and tax returns for the past two years.
- Bank statements: You’ll typically need to provide bank statements for the past two to three months to show your assets and cash reserves.
- Homeowners insurance: You’ll need to provide proof of homeowners insurance for your property.
- Property tax statements: You’ll need to provide proof of property taxes paid or any outstanding property taxes owed.
- Mortgage statement: You’ll need to provide your current mortgage statement to show your outstanding loan balance and payment history.
- Credit report: The lender will pull your credit report to evaluate your creditworthiness and determine your interest rate.
- Employment verification: The lender may contact your employer to verify your employment and income.
It’s a good idea to check with your lender to confirm exactly what documents you’ll need to provide for your specific refinance.
