The Essential Mortgage Loan Refinance Checklist


The following is a guest post. Enjoy!

The Essential Mortgage Loan Refinance Checklist

Looking for a way to put more cash in your pocket? Refinancing your home is a great way to modify your home loan payment and make it better fit your budget. Whether you’re looking to take advantage of low mortgage refinance rates or to change the terms of your loan, it can be a smart move. Of course, refinancing requires some upfront fees, so you’ll want to do the math to be sure they’re covered by the eventual savings.

Before you sit down to tackle your refinance application, be sure you’ve gathered all of the necessary documents and important information you’ll need to complete it. The mortgage refinance process will go more smoothly if you’re prepared upfront.

Ready to refinance your mortgage? Use this helpful checklist.


Information on your home and mortgage:

·         All properties you own, including addresses, estimated value, annual taxes and insurance.

·         The year you purchased the property you’re seeking to refinance.

·         The original cost of that property.

·         The amount you owe on any loans tied to this property. This includes all mortgages and home equity loans and lines of credit.

·         Any additional liens against the property, such as judgments.

·         Your most recent mortgage statement.


Personal information:

·         Residential addresses for the last three years.

·         Social Security Number.

·         Driver’s license or state ID card.

·         Tax returns, W-2s, and pay stubs for the last two years.

·         Employer information, including name, address, and phone.

·         Financial assets, including checking and savings account balances, investments, life insurance, vehicles, jewelry, antiques, etc.

·         Documentation proving other income sources, like Social Security checks, retirement accounts, child support, alimony, rental income, dividends, etc.

·         Information on any bankruptcy proceedings or discharges.


Of course, the documents required by your bank to refinance mortgage terms could vary somewhat from this list. But, this is still a good place to start when you’re preparing to refinance. Once you’ve completed the refinance process, you’ll have peace of mind knowing that your mortgage is best suited to your finances.

How about you all? Have you ever refinanced your home loan? If so, do you still think it was the best decision financially?

Share your experiences by commenting below!

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  1. Barb Friedberg says:

    Jacob, we just refinanced with a 15 year loan at 3.7%. Although the monthly payment is higher, we are saving 10s of thousands of dollars over the life of the loan.

    • Nice job Barb! What % rate was your last loan? Also, I'm curious why your went with the 15 year over the 30 year loan?
      My recent post The Pros and Cons of a Down Payment Assistance Program

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