Vancouver Wa Real Estate Blog

When you refinance your existing mortgage, you are essentially paying off the existing mortgage debt and replacing it with a new loan. Many of the same costs are involved in refinancing a loan as are in first-time financing.

To start with, the lender will need personal information to verify employment for you and your co-borrower (if there is one). They will also need information regarding all of your debts and assets, including your existing mortgage.

In order to expedite the paperwork process, start gathering the following items:

• W2′s from the last two years (For borrower and co-borrower, if you filed separately)
• If you are self-employed, bring signed copies of your last two year’s tax returns, including all schedules that were filed, and a profit/loss statement or balance sheet for the current year
• Homeowner’s insurance company name and number
• The original lender’s contact information
• Most recent bank statements
• Most recent statements from 401ks, IRAs, mutual funds and securities accounts
• A copy of your current payment coupon for your existing loan, along with the outstanding mortgage balance

Crystal Boldt Mortgage and Financing