Refinancing Checklist

NJ Lenders Corp.

Refinancing Checklist Track theinformationas well as thedocumentsyou may be

Your Information

• Personal information
  • Full legal name, date of birth, and social security number
• Contact information
  • Primary phone number and email address, current and former residential/mailing addresses for the last two years
• Income
  • Gross income, including primary, secondary, and part-time jobs, as well as overtime, bonuses, and commissions when applicable.
  • Secondary income, including retirement, veteran’s benefits, disability payments, alimony, child support, and rental/investment income.
• Employment History
  • Name, phone number, and address of all employers over the last two years
• Assets
  • Value of each bank, retirement, investment, and other asset accounts
• Current Expenses
  • Housing, credit card, and loan payments, child support, and any other obligations
• Current Home
  • Original purchase price, the year your home was purchased, and the current estimated market value
  • Total outstanding balance of all loans secured by the property
• Reasoning for refinance and the amount you need to borrow

Documentation

Your mortgage professional will ask you to provide some or all of the documents listed below. This is a general list to reference, so you may be asked to provide additional documents throughout the loan process depending on your unique financial circumstances.

Income, Employment, and Assets

• IRS Form 4506-T. Request for tax transcript- completed, signed and dated
• Pay stubs covering the last 30 days with year-to-date information included
• W-2s for the last two years
• Federal tax returns (1040s) for the last two years
• Written explanation if employed less than two years total or employment gap exists within the last two years
• Most recent two months statements for all accounts listed on the application - all pages

Self-employed borrowers

• Federal tax returns (personal and business) from the last three years
• Year-to-date profit and loss statement
• List of all business debts

Credit

• Letter of explanation for any late payments, collections, or other derogatory items existing in credit history
• Source of funds for any large deposits on asset statements, excluding payroll or gift fund deposits
• Judicial decree or court order for each obligation due to legal action, including lawsuits, child support, etc.
• Bankruptcy and discharge papers for any bankruptcies existing in the credit history
• Payment history for public utilities, telephone, car, insurance, etc.

Miscellaneous

• Valid form of ID and social security card
• Hazard (Homeowner's) insurance information including agent's name and phone number

Active Duty and Servicemembers

• Prior to refinancing your existing mortgage loan, please consult with your legal advisor regarding the loss of any benefits you may be entitled to under the Servicemembers Civil Relief Act or applicable state law

The content and information provided within this list is a courtesy. We make no representations or warranties as to accuracy or completeness of information and assume no liability for the use of this information.