The first step to a smooth and successful refinance of your home is gathering and sending your supporting documents. We need to see the details of your income and financial savings in order to properly advise you about the range of financing possibilities. Your completed application will be based on the documents you provide, so it is very important that we have complete information about your financial picture from the beginning.
Here is a list of the documents we need from you:
- Pay check stubs for the most recent 30 day period.
- W2 forms for the most recent two years (2015 and 2014).
- Federal tax returns with all schedules and attachments for the most recent two years (2015 and 2014). We do not need your California tax returns. Please be sure to sign and date your tax returns on page two. If you have not yet filed your 2015 tax return and you are on extension, we need a copy of the extension form filed and proof that any taxes due have been paid.
- If you have ANY other type of income, we need documentation of that as well (examples: social security, pension, etc). Please provide your most recent annual award letter.
**** TIP – Avoid the hassle of scanning your tax returns. Your CPA or tax preparer usually has a PDF copy of your tax returns and can easily send those to you.
**** IMPORTANT – If you haven’t yet filed your 2015 Federal tax return, please be sure to file ELECTRONICALLY and not by mail. This is to be sure your tax transcript is available to lender without delay.
Do You Have Any Self-Employment Income?
If you own a 25% or greater interest in any corporation, partnership or LLC, we also need the following additional documents:
- Federal tax returns for the company (IRS forms 1120 or 1065) for last two years, including all schedules and attachments. If your company is on extension, and has not yet filed with the IRS for the most recent tax year, we need a copy of the extension form filed and proof that any taxes due have been paid.
- A Profit & Loss statement on the business for the current year-to-date.
- Any and all 1099s you received for the last two years.
- Any and all K1 forms you received for the last two years.
**** PLEASE NOTE – If you are a sole proprietor and you report your self-employment income on Schedule C of your personal tax return, we don’t need additional tax returns but we still need to receive your 1099s and a Profit & Loss statement on your business for the current year-to-date.
**** IMPORTANT – If your business hasn’t filed its 2015 Federal tax return, please be sure to file ELECTRONICALLY and not by mail. This is to be sure your tax transcript is available to lender without delay.
- Bank statements for the last two months
- Investment account statements for the last two months
- Retirement account statements for the last two periods, whether monthly or quarterly
**** IMPORTANT – All financial account statements must include EVERY SINGLE page to the statement. The best way to do this is to download your statements in PDF format directly from your financial institution’s website.
- Clear close up picture of your driver’s license(s). The best way to do this is take a picture with your phone and then send us the picture(s). Better yet, install a free app on your phone called Scanbot. When you take a photo using Scanbot, it very easily converts the image to a PDF.
- The declaration page of your homeowners’ insurance policy.
**** PLEASE NOTE – Password protected PDF documents are NOT acceptable to lenders. The lender’s underwriter must be able to view your digital documents without restriction. We certainly understand your desire for confidentiality. But if you send us password protected documents, the first thing we must do is remove the security feature. To maintain your privacy, a better approach is to NOT email your documents as attachments. Instead, we will send you an invitation to a privately shared folder on Dropbox.