Refinance Loan Application Checklist

Once a rate is locked, please consider to finish the loan process. If you are not sure you can finish it. please hold the lock. Your consideration is highly appreciated.

1. Borrower Information (download at the bottom of this page)

2. Loan application form (download at the bottom of this page)    

• working history and living history can be ignored as you've already provided in borrower information.

• Provide ALL the information highlighted, for example age of kid(s) and dependent(s) on the tax returns.

  • You can fill out the form on computer and save the PDF file. You don’t have to sign it.

  • Please make sure your writing is legible and correct. I suggest you always use UPPERCASE letters.

3. I will pull your credit report.

4. Recent 30 days paystubs

• Need three pay stubs if you get paid bi-weekly or two stubs if paid semi-monthly

• Need one pay stub if paid monthly

• The employer name must be shown on the pay stub to avoid verification of employment.

5. last two years tax return (Federal only but with all schedules)

• • Must provide full version - not just 1040 two pages.

  • Provide all Schedules (A, C, E, K-1 etc)

  • Proof of extension if you filed tax extension

6. 2016/2017 W2

• If tax was filed jointly, need all persons' W2s

7. Recent two month bank statements - what is a valid bank statement 

• If you use the following banks, be careful. Because you may not get cashier check or wire the money with these banks.

  • Discover/Captital One/TCF/AMEX etc

  • The bank statement must be clean, means no large cash or check deposit. Salary deposit is fine.  

• Some banks only provide quarterly statement if no account activities. So make sure it's a clean quarterly statement.

• Please do not make large deposit or withdraw large amount of money from the bank accounts during the loan process. 

8. Driver's license for all borrows – front side only AND

• For US citizen, only driver license is needed.

• For green card holder 

  • need both sides of the green card

  • Make sure the photocopies are clear on both sides, particularly the bottom line on the back side

• For H1B holder

  • Passport - only need first page with photo

  • Entry Visa on passport, it's OK if it's expired.

  • I-797 - two pages

9. Homeowner Insurance statement (Hazard Insurance)

• • Make sure it's not expired.

  • Provide the insurance agent contact information if it's not on the statement.

10. Most recent mortgage statement

• If the property is an investment property, I'll need your primary home mortgage statement/insurance statement/HOA bill.

11.If you have HOA, you MUST provide 

• the master insurance. 

• the HOA monthly paystub

• Let me know if the total condo units < 20 in your community.

Additionally:

• • Even you are the only borrower, your spouse still need to sign the doc at closing. If you or your spouse will be on travel during closing time, please let me know. 

  • Provide city permit if you add a bed room/bath room.

  • Provide HUD copy if you bought your house less than a year - all pages

    • Here is the Sample

• If you have HELOC/Second Mortgage, provide:

  • • NOTE

    • subordination agreement

• • If you have rental property, provide

    • rental agreements (if rental income will be used)

  • mortgage statement

    • property tax slip

    • insurance

    • HOA statement (if the property has HOA)

  • If you are a new graduate student, provide:

  • degree diploma

    • start/end date of your degree

    • address of your college

If you have or will have following changes, please let me know beforehand.

• job change

• closed bank account recently

• will go on travel

• use gift money

• visa status change

• anything you can think of that may affect the loan application

Make sure you provide all document, sometimes a missing document can delay a loan application. For example, it takes long time to get master insurance from HOA. 

 Note: Absolutely no cut and copy for the signature.