1. Tax returns – You will need to fill in a Form 4506-T, and provide your tax forms (the last 2 years should suffice).

2. Pay stubs, W-2s, or other proof of income -These include your recent salary stubs. If you are self-employed you must provide two recent tax return forms as well as profit or loss forms.

3. Bank statements and other assets – This includes proof of your possessions, assets, as well as other investment assets such as life insurance.

4. Credit history – Details of your credit history, including any episodes of bankruptcies or foreclosures.

5. Gift letters – If any friend or family member wants to help you with the down payment by offering you some cash you must provide a “gift letter” which states that the money is a gift and not a loan.

6. Photo ID – Recently taken personal photo passport style.

7. Renting history – Your history as a tenant on rent to guarantee you can pay your rent bills on time.

If all the documentation is in order and no unexpected issues are encountered, the process from the initial contact to the refinance approval can take as little as 10 days.

The HOA Fees aka Home Owners Association Fees are monthly payments for the maintenance of the common areas and amenities if you live in a joint association such as a block of flats or condominium association.

A down payment is a type of payment, often in cash, made in the early stages of a purchase of a home. Our down payments can be as low as 3% depending on the type of loan except for the VA Loans (Veterans only), with a 0% down payment required.

The principal is the money that you originally agreed to pay back on a home loan or mortgage refinance.

A loan term is the period of time a borrower takes to completely pay off a loan when payments are made out regularly and as previously agreed by both parties.