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Mortgage Refinance Checklist

Mortgage Refinance Checklist

Michael Jensen, Mortgage and Finance Guru
, Mortgage and Finance Guru

    Most borrowers are required to provide extensive personal and financial documentation to refinance your mortgage.  Lenders typically request documents related to your employment and income, financial position and tax history.  This is so the lender can verify your income, assets and employment status and evaluate your credit-worthiness.  The documents requested may vary somewhat by lender but will likely include the items listed below.  Having these documents available and organized at the beginning of the refinancing process will make things go much smoother.  Reviewing your personal finances in advance of the refinancing process will help you identify and resolve potential issues such as missing documents or errors you may find.  This will help you avoid potential delays and ensure that your refinancing is processed as quickly as possible.

    The documents required for a mortgage refinance are similar to the documents required for a home purchase loan but with some additions.  In addition to standard personal and financial documents such as tax returns, W-2s, pay stubs, bank and loan statements, borrowers are also required to provide their most recent mortgage statement, property tax bill and homeowners insurance declaration.   The refinance lender wants to understand the terms of your current mortgage as well as your loan balance, property taxes due and other information.  Having these documents available at the beginning of the process can make your refinance go much smoother.

    If you a refinancing a rental property, lenders also request the Schedule E from your tax returns that shows the income and expenses for the property among other additional information. Extra documentation is also required for self-employed borrowers who are refinancing.

  • Mortgage Refinance Application Document List
    • Pay stubs (two months)
    • W-2 (two years)
    • Tax returns (two years)
    • Bank statements (two months)
    • Investment account statements
    • IRA / 401K / pension statements
    • Homeowner's insurance declaration
    • Most recent monthly mortgage statement
    • Most recent property tax bill
    • If property is owned in a trust, a copy of the trust
    • Current statements for outstanding debt such as credit card, auto and student loans
    If you are self-employed:
    • Business license
    • Schedule C
    • Corporate tax returns
    • Partnership returns
    • Business profit & loss statement (P&L)
    • Business bank statements (depending on loan program)
    If you own income producing real estate:
    • Schedule E
    • Leases
    • Schedule of real estate owned
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  • Sources

    Required Documents: https://www.fanniemae.com/content/guide/selling/b3/3.5/01.html

About the author

Michael Jensen, Mortgage and Finance Guru

Michael is the co-founder of FREEandCLEAR. Michael possesses extensive knowledge about mortgages and finance and has been writing about mortgages for nearly a decade. His work has been featured in leading national and industry publications. More about Michael

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