Sun Posted February 22, 2013 Share Posted February 22, 2013 What all did you need? I remember reading on here recently about all the documentation that was being requested, but I couldn't find that thread just now. Thanks! Quote Link to comment Share on other sites More sharing options...
Arcadia Posted February 23, 2013 Share Posted February 23, 2013 For home mortgage: W2 of the people on the mortgage to verify income Home insurance to verify that the home insurance is current For condo mortgage: W2 of the people on the mortgage to verify income Home insurance to verify that the home insurance is current HOA forms that the bank will supply for the condo's HOA to fill up. The bank will do the credit score pull. There is very little documentation required for the normal mortgage/refinance. There is quite a lot of documentation required for HARP or HAMP. Quote Link to comment Share on other sites More sharing options...
mlbuchina Posted February 23, 2013 Share Posted February 23, 2013 We just refinanced our home, and we had a mountain of paperwork. Just about all the paperwork as the original loan. Our loan is an fha, though. If it were conventional, I don't think it would have been as bad. Quote Link to comment Share on other sites More sharing options...
Dad 4 Boys Posted February 23, 2013 Share Posted February 23, 2013 We're in middle of refinancing right now. We're supposed to close early next week. Here's what was requested of us. Following is the list of items needed in order to process your new mortgage. 1. Last 30 days paycheck stubs – 2. Federal Tax Returns 2010 and 2011 – all schedules/pages 3. W2’s, K1’s and/or 1099’s for 2010 and 2011- From all employers and all business interests 4. If self employed or owner of any business in which you own 25% or more please provide- Copy last 2 years Federal Business Tax Returns– All schedules/pages Year to Date Profit & Loss Statement and Balance Sheet for current year 5. Last 60 days - Bank statement / investment statement / retirement statement - All pages - please be sure your name/address account number bank or institution name listed on each statement *** As part of the Federal Government anti-laundry requirement we are required to source all large deposits – other than payroll – Letter of Explanation. Email format is fine. 6. Name and phone number of home owner's insurance agent /company on all property owned 7. Copy of your most current mortgage statement from current servicer on all property owned. We were never asked for all of this on any of our three earlier refinances. Quote Link to comment Share on other sites More sharing options...
TexasRachel Posted February 23, 2013 Share Posted February 23, 2013 We're in middle of refinancing right now. We're supposed to close early next week. Here's what was requested of us. Following is the list of items needed in order to process your new mortgage. 1. Last 30 days paycheck stubs – 2. Federal Tax Returns 2010 and 2011 – all schedules/pages 3. W2’s, K1’s and/or 1099’s for 2010 and 2011- From all employers and all business interests 4. If self employed or owner of any business in which you own 25% or more please provide- Copy last 2 years Federal Business Tax Returns– All schedules/pages Year to Date Profit & Loss Statement and Balance Sheet for current year 5. Last 60 days - Bank statement / investment statement / retirement statement - All pages - please be sure your name/address account number bank or institution name listed on each statement *** As part of the Federal Government anti-laundry requirement we are required to source all large deposits – other than payroll – Letter of Explanation. Email format is fine. 6. Name and phone number of home owner's insurance agent /company on all property owned 7. Copy of your most current mortgage statement from current servicer on all property owned. We were never asked for all of this on any of our three earlier refinances. This pretty much what we were required to provide. It also only took a month despite what they told us. Quote Link to comment Share on other sites More sharing options...
Arcadia Posted February 23, 2013 Share Posted February 23, 2013 We're in middle of refinancing right now. We're supposed to close early next week. Here's what was requested of us. Following is the list of items needed in order to process your new mortgage. 1. Last 30 days paycheck stubs – 2. Federal Tax Returns 2010 and 2011 – all schedules/pages 3. W2’s, K1’s and/or 1099’s for 2010 and 2011- From all employers and all business interests 4. If self employed or owner of any business in which you own 25% or more please provide- Copy last 2 years Federal Business Tax Returns– All schedules/pages Year to Date Profit & Loss Statement and Balance Sheet for current year 5. Last 60 days - Bank statement / investment statement / retirement statement - All pages - please be sure your name/address account number bank or institution name listed on each statement *** As part of the Federal Government anti-laundry requirement we are required to source all large deposits – other than payroll – Letter of Explanation. Email format is fine. 6. Name and phone number of home owner's insurance agent /company on all property owned 7. Copy of your most current mortgage statement from current servicer on all property owned. We were never asked for all of this on any of our three earlier refinances. A bunch of neighbors just refinance and were not ask for so much info. Maybe it varies by banks and/or locations. Quote Link to comment Share on other sites More sharing options...
higginszoo Posted February 23, 2013 Share Posted February 23, 2013 We were surprised when we refinanced last fall ... we didn't really need to show any additional info. We were with the same lender and completely current with no late payments, though. Ours was a conventional with more than 20% equity too, so that might account for it. They just sent us a pack of papers to sign (some had to be notarized -- we needed DL for that). Quote Link to comment Share on other sites More sharing options...
Sun Posted February 23, 2013 Author Share Posted February 23, 2013 Thank you! This is all reassuring. I thought I'd read about lots of extra hoops to jump through, but you all are making me feel better. Quote Link to comment Share on other sites More sharing options...
Tap Posted February 23, 2013 Share Posted February 23, 2013 We left Washington Mutual and refi'd with a local CU. Since we have a credit score over 800 over 70% equity in our home from the last appraisal (maybe 8 years ago?), we didn't need anything. Those were the two qualifying factors for this particular loan program. It took just over a week and only required a few signatures from dh and I. No pay stubs, job verifications, appraisals...nothing. I was floooooooored, especially since dh was self employed at the time! We got a great interest rate and paid zero fees/points. Oh....I did have to show my drivers license...LOL I guess that was something! Quote Link to comment Share on other sites More sharing options...
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