- Refinancing could potentially reduce your monthly payments.
- Refinancing may also let you cash out of your home equity for home improvements or educational expenses.
- May eliminate PMI.
Benefits of refinancing
- Lower monthly payment
- A quicker pay off
- Lower interest cost
- Cash out
Documents You’ll Need
- Copy of drivers license and Social Security card for all borrowers
- Current paystubs for the last 30 days
- W2s for 2014 and 2015
- Tax returns for 2014 and 2015
- Last two month’s statements for all checking, savings, assets, and retirement accounts (must include all pages of statement)
- Complete tax returns for 2014 and 2015 if self employed or paid commissions
- Year to date Profit and Loss Statement of self employed or paid commissions.
- Bankruptcy letter of explanation and initial filing-discharge documents