The numbers of home owners refinancing are on ever increasing note. Most of the homeowners opt for refinance home loans to lower the interest rates by which they can gain a considerable amount of money. It is a myth that only homeowners who are on a default or in foreclosure choose to refinance their home loans. Any individual who wants to have better conditions and features for their home loans can do this. Most people approach the local banks and lenders. However, national banks and other larger group of financial institutions offer loans at cheaper interest rates.Some of the disadvantages of the big banks are their location. People living in far away locations cannot approach the banks for every single process. It might be time consuming and add unwanted time to the process. By gathering the documents in advance, borrowers could make the whole process as fast as possible.Documents needed:o The most recent pay slip of an employee is needed to verify income and employment information.o Home owner’s insurance information will help in better negotiation with the lenders. This gives much information regarding who gets paid on occasions of any damage done to the property.o Last two years W-2 is essential which will help the lenders to know about the various income levels and income to debt ratio levels.o Financial account statements such as 401k, retirement accounts are necessary will help the lenders to determine the eligibility for the loan amount.o The purchase transactions alone require the landlord contact info to know about the regular rent payments.The above said documents are needed for the pre-approval of loans. However, there can additional documents needed by the lenders to analyze fiscal position to refinance home loan. The borrowers need to have prior knowledge on the proceedings to avoid any delay in getting the loan.