When Refinancing an mortgage, the borrower is transferring an existing loan from the current mortgagee bank to another commonly due to lower interest rate. Among the documents that the new bank will be looking for is the Proof of Payment for the Last 3 Months. This establishes the borrower's credibility with the new bank that there were no defaulted payments and the borrower is a good pay master.

This is a statement or a copy coming from your current bank. This serves as an acknowledgment that they have received the monthly loan repayment that you owe them.

When submitting this document to the new bank, the following details are the more important items that needs to be reflected:

  • Borrower's Name

  • Principal Amount

  • Amortization date

  • Payment date

  • Monthly Amortization

  • Amount Paid

  • Outstanding Balance

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