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26
Sep

A Guide to Refinancing

Below are a list of items needed for review. Please provide those that apply to you.

 

REFINANCE OR EQUITY LOAN REQUIREMENTS

  • EVIDENCE OF INSURANCE- Front page of homeowner’s insurance policy for all properties owned.
  • NOTES ON EXISTING MORTGAGE(S) & LENDERS FOR 2ND & 3RD LOANS (only if being subordinated)
  • COPY OF LATEST MORTGAGE BILLING STATEMENT(S) for all properties owned
  • COPY OF PROPERTY TAX ROLL (BILLING STATEMENT) for all properties owned
  • FINAL CLOSING STATEMENT if home was purchased less than 2 years ago.
  • IF PULLING CASH OUT - LETTER (dated and hand signed) stating purpose for pulling cash out.

BORROWER INCOME AND ASSET DOCUMENTS

  • W-2:  Last 2 years per borrower.
  • PAY CHECK STUBS: If paid twice per month copy of last 2, if paid weekly, last 4.
  • BANK STATEMENTS: Last 2 months/quarters, complete pages.
  • 401K / IRA:  Last 2 quarter statements.
  • COPY OF DRIVER’S LICENSE OR CALIFORNIA I.D.
  • COPY OF SOCIAL SECURITY CARD for FHA and VA loans only.
  • COPY OF DD214 for VA loan only.
  • CERTIFICATE OF ELIGIBILITY - VA loan only.

If you are divorced:

  • COPY OF FINAL DIVORCE DECREE including complete settlement agreement.

If you are receiving child support and/or alimony:

  • COPY OF CANCELED CHECKS OR BANK STATEMENTS for the last 12 months showing receipt of the same.
  • COPY OF COURT ORDER .

If you are receiving Social Security and/or Retirement Income:

  • COPY OF UPDATED AWARD LETTER/S

If you own properties:

  • Copy of latest mortgage statements for all properties
  • Copy of updated homeowner's insurance for all properties
  • Copy of last property tax statement for all properties

If they are rented:

  • Copy of rental agreements / leases
  • FEDERAL TAX RETURNS (1040) last 2 years complete with all schedules and addendums.

If you had a bankruptcy within the last 7 years:

  • COPY OF DISCHARGE LETTER AND COMPLETE BK SCHEDULES.

If you are self-employed, a corporation, a partnership, or receive 1099 commission or bonus income:

  • COPY OF FEDERAL TAX RETURNS (1040) for the last 2 years complete with all addendums resigned with original signatures.
  • SIGNED YEAR-TO-DATE (YTD) PROFIT & LOSS STATEMENT
  • COPY OF CORPORATE FEDERAL TAX RETURNS (1120) for the last 2 years with original signatures (only if you are a corporate officer and/or own stock of 25% or more.
  • COPY OF PARTNERSHIP FEDERAL TAX RETURNS (1065) for the last 2 years with original signatures (General Partnership only).
  • COPY OF SIGNED PARTNERSHIP K-1 FORMS for all limited partnership as well as general partnerships.

If you sold a home in the last 12 months:

  • COPY OF FINAL CLOSING STATEMENT

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Jonathan Caguioa

NMLS# 250609 / DRE# 01137630 Mobile: 949-241-2527

ALLIANZ MORTGAGE NMLS# 346138 / DRE# 01403147

15820 Whittier Blvd, Suite G
Whittier, CA 90603

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