Refinancing a home is often a smart financial decision, but it can be confusing and scary if you aren’t familiar with the ins and outs of the process. The experienced mortgage professionals at DNJ Gateway Bank Mortgage are ready to guide you through each step of the process, saving you time and money!
Contact us to review your credit report and learn what your home refinance options are.
Once you have decided to refinance, it is time to get the ball rolling on the application process!
If you are not a US citizen: Copy of your green card (front and back)
2. Past two years W-2s and/or 1099s
3. Past two years completed and signed federal tax returns, including all schedules
If you are self-employed: Most recent two years business licenses or a letter from your CPA stating the name of the business and the number of years you have been self-employed
If you receive Social Security, Disability, Pension, Annuity, or Other Income: Award letter and bank statements evidencing receipt of funds
If you receive rental income: Lease agreement(s) and/or Schedule E of your most recent federal tax return
If you are starting or recently started a new job: Offer letter from employer showing terms of employment
If you receive alimony, child support, and/or separate maintenance: Signed copy of Divorce Decree, Child Support Agreement, and/or Separation Agreement
2. The most recent mortgage statement for the property being refinanced, including tax and insurance information.
3. Statements for any accounts being used for reserve assets (ex: 401K, IRA, other retirement funds)
If gift funds are being given: Signed gift letter from donor and evidence of receipt of funds
If you own other real estate: Current mortgage statements for any property owned, including tax and insurance information
If living rent-free: Signed letter from current residence property owner stating that you live at that residence rent-free
Once our processing and underwriting staff has reviewed your initial documentation, they will issue a preliminary approval and ask questions and look for additional documentation needed to complete your file and get it ready for closing.
Congratulations! You have been credit approved and are ready to review your final documents and head to the closing table.