A driver’s license is required to verify your identity and address. Lenders need to ensure they are dealing with the correct individual and that you are a legal resident.
Your most recent pay stub provides proof of current employment and income. Lenders use this to verify your ability to make mortgage payments and to confirm the income you’ve stated on your application.
These documents show your income history, which lenders use to assess your long-term financial stability. For self-employed individuals, tax returns provide a comprehensive view of your business income and expenses.
Bank statements allow lenders to verify your assets, income deposits, and spending habits. They also help identify any large deposits that may need to be sourced and ensure you have sufficient funds for down payment and closing costs.
As with purchase pre-approval, this is needed to verify your identity and current address.
This proves your current employment status and income, which is crucial for determining your ability to continue making mortgage payments after refinancing.
These documents provide a historical view of your income, helping lenders assess your financial stability over time.
This document proves that your property is adequately insured, which protects both you and the lender’s investment in the property.
The mortgage note contains details about your current loan terms. Lenders need this information to compare your existing mortgage with the new refinance offer and to ensure the refinance will benefit you.