Refinance Cheat Sheet
Everything you need to know before you hit "submit" on your refinance, so your application sails through smoothly the first time.
Step 1, Unfreeze Your Credit
Do this first- If your credit is frozen, the application cannot pull your report, it will stop dead in its tracks.
- Unfreeze at all three bureaus: Equifax (equifax.com), Experian (experian.com), TransUnion (transunion.com).
- It only takes a few minutes online and you can re-freeze after your application is submitted.
- Not sure if it's frozen? Try logging into Credit Karma or AnnualCreditReport.com.
Step 2, Know Your Property Value
Best estimate is fine- The application will ask for your home's current estimated value, enter YOUR best guess based on what you think it's worth today.
- Check Zillow, Redfin, or recent sales of similar homes nearby for a ballpark figure.
- Don't stress about being exact. Once you apply, we'll order an appraisal or use an AVM to confirm the real number, your estimate just helps us get started.
- Your estimate also determines whether a full appraisal is required, so be realistic rather than optimistic.
Step 3, Gather Your Documents
W-2 / Salaried employees- Most recent mortgage statement (this is critical, it shows your current balance, rate, and servicer info).
- Last 2 pay stubs (most recent)
- Last 2 years of W-2s
- Last 2 months of bank statements (all pages, all accounts)
- Government-issued photo ID (driver's license or passport)
- Homeowner's insurance declaration page
Step 3 (Alt), Self-Employed Documents
Self-employed / 1099- Most recent mortgage statement
- Last 2 years of personal AND business tax returns (all pages)
- Last 2 months of business bank statements
- Year-to-date Profit & Loss statement (CPA-prepared preferred)
- Business license or CPA contact info
Step 4, Upload Securely in the Portal
Safe & encrypted- The application portal uses bank-level encryption, it's safe to upload PDFs directly.
- Scan or photograph documents clearly. PDFs are preferred; clear photos work too.
- Do NOT email sensitive documents, the secure portal is the right place.
- Upload as you go, you don't need everything before you start.
Step 5, Know What to Expect in the Form
Heads up- For your property value, enter your best estimate, what you believe your home is worth today. This is YOUR number, not a pre-filled placeholder.
- For your current loan balance, check your most recent mortgage statement, it's on the first page.
- Don't stress about getting everything perfect. Our team will verify and update final figures after you apply.
- The application autosaves, so you can stop and come back if needed.
- If a question confuses you, stop and text our team at (360) 544-9203. Don't guess on anything important.
Bonus Tips, Think Before You Refi
Know your goal: lower rate, lower payment, shorter term, or cash out? Different goals = different loan strategies.
Think about how long you plan to stay in the home, this changes whether a refi makes financial sense.
Don't pay off old collections without asking RJ first, it can sometimes lower your score.
Keep all financial statements for the past 60 days, large deposits may need explanation.
Still have questions? Text our team.
Text our team line and someone will get back to you fast. If you get stuck anywhere in the application, just text, we'll walk you through it step by step.
For informational purposes. Not financial or legal advice. Equal Housing Lender. Canopy Mortgage, LLC · NMLS #RJBennett1117