Making Refinance Home Loans Fast and Easy

Home owners across the country refinance everyday to either get a lower rate or pull cash out for various reasons. Many use local banks, credit unions and mortgage brokers. However many people often choose to use large national banks for their loans because of great low rates they offer on their home refinance loan products.Negatives Of The Big BanksBut because large corporate banks are generally located in another city you will have to fax or mail your documents to them. This can add unwanted time to the process and can sometimes get frustrating. But by gathering the required documents ahead of time you can have the same fast and pleasant home loan experience you would get from a local bank.When you are applying for your home refinance loan your mortgage officer will in most cases give you a checklist of required documents to send them. If for some reason you are not provided with this list the following list should help you.Documents Needed For a Fast Home loanMost Recent Pay Stub- This will allow the bank to verify income and employment. Supply this information for both borrowers that intend to be on the mortgage.Home Owners Insurance Information- This will make it easier for the bank to change the mortgagee clause on your loan. The clause basically states who gets paid by the insurance company in the event of property loss.Last two years W-2- Again supply this for both borrowers as it will help determine income levels and debt to income ratios.Financial Account Statements-Supply copies of any recent bank statements, 401K or retirement accounts. This will show the lender your amount of reserves and help determine your eligibility for the loan you want.Landlord Contact Info- If you rent supply the name and number of your landlord. The lender may want to contact them to check n your rent payment history. This only required for purchase transactions.The above list covers the basic information needed to pre-approve most refinance home loans. Keep in mind that your loan officer may however ask you to send additional documents that have been requested by the loan underwriters.