home equity & refinancing

Have you been putting off home projects?  Do you have any large outstanding bills, credit card balances, or personal loans?  Is the interest rate too high for your home loan? All of these are great opportunities to use your home’s equity to refinance your home loan.  With either option of a simple rate and term refinance, or getting cash out for debt consolidation, we’ll walk with you through the refinance process. 

 

What documents will I need?

During the home equity and refinancing process, you’ll need to provide:

  • Current driver’s license or another form of photo identification
  • Purchase contract, if applicable
  • Most recent:
    • Two years of tax returns, including W-2s
    • Two months of bank statements with images of checks & deposits
    • Two months of pay stubs or payroll information with year-to-date totals
    • Retirement and/or investment statement

*Note, if you’re self-employed, more documentation may be required.

 

Tips when refinancing your mortgage:  

  • Don’t take on more debt or loans without talking to your loan officer first because this can disqualify you from being able to close your home loan.
  • Don’t change jobs or careers while in the home loan process, unless you’re relocating to a new job with guaranteed employment.
  • Get documents to your loan officer in a timely manner because the loan process cannot move forward until we receive the required documents.
  • Make sure you’re able to document any large deposits to your accounts if other than payroll (gift money, tax returns, large cash deposits, etc.)
  • Ask questions, that’s what we’re here for!

For more information, check out our

Home Buyer’s Guide