Refinance Checklist
Refinance Check List
Thank you for choosing Continental Mortgage and Investment Corp to help you complete your refinance loan. Below is a list of items needed to help us quickly and efficiently close your loan:
Ø First, if you have not gotten an application already we need you complete one. You can do so online at http://www.cmicloan.com/applyNow.html and use our secure server to fill out an application or download an application from the same page and fax it back to us at (703) 522-2264. I prefer us to take your application over the phone please call us directly so that we may do so for you. If we already took your application please ignore this.
Ø We will need to verify your information on the application so please include the follow items exactly as it says via fax or mail:
o Most recent pay stubs covering the last 30-days for all jobs you might hold
o 2007/2008 W-2’s (tax returns if self employed, commissioned or bonus income)
o Two months complete bank/brokerage/retirement statements as sent to you by the institution to include ALL PAGES OF EACH, even pages marked intentionally blank or advertising. We cannot accept summary pages or partial internet print offs. If it is a quarterly statement please include the most recent report.
o Any additional information on other properties you might own including leases for rental properties. (Your tax returns are then required if you have rental properties.)
o Contact at your job to verify your employment with best number to reach them
o Copy of your driver’s license
o Signed and returned application and disclosures (sent to you by us) – please make pen and ink changes to applications that need to be updated. Your changes to the application will serve as the originals and are allowed by our investors.
o Owner’s title insurance copy (schedules A & B) for reduction in closing costs
o Homeowner’s insurance information to include agent name and phone number
o Copy of any mortgage note on the property
Ø With these items we will be able to issue you a full credit approval. Recent changes instituted by all lenders now require a credit or debit card directly to an appraisal management company for about $475.00 for your appraisal deposit (the appraisal is transferable if you elect to go with another lender or will be credited at closing).
Ø Most importantly, please do not delay in getting any of this information to us or setting up your appraisal inspection. The capacity for the mortgage industry to handle the volume of applications has been greatly reduced and is resulting in increased underwriting and closing turn times. The sooner we have everything we need from you the sooner we can submit you application and close your new mortgage loan to save you money.
Any questions or comments about our refinance checklist please click here.
