Mortgage Refinancing Process

Refinance Process

Step 1: What is the goal of refinancing your mortgage?

One of the most important steps before deciding whether or not refinancing is beneficial is to determine your objectives. Is your goal to reduce your monthly payment or pull cash from your equity for home improvements or debt consolidation? Are you looking for a fixed rate instead of an adjustable rate? Once you determine your goals, you can look at the various programs available to decide which loan option helps you achieve those goals.

Step 2: Inquire online or call one of our Mortgage Planners 

Once you've defined your goals and researched all the loan options available, you can submit your information online or pick up the phone to speak with one of our mortgage experts. Your Mortgage Planner can answer any questions you have about the loan program you're considering or can make a recommendation for you given your individual goals. We'll make sure that you understand every detail of your loan program and answer any questions you have before moving forward. When you're ready, you can apply online or call to talk to the Mortgage Planner of your choice.

Step 3: Select your loan program

If you decide you'd like to move forward with the refinance, your Mortgage Planner will confirm your loan program, rate, and payment and will answer any questions you have. At this point, you can lock in your interest rate to protect you against any fluctuations in the market.

Step 4: Submit your documents

Your Mortgage Planner will provide you a list of items for you to send us so that we can verify all your information to get your loan approved and closed quickly. We will also send you some preliminary disclosures such as the loan estimate to review and sign which detail the terms of your rate and loan. In a few days, we will contact you to schedule the appraisal inspection. It is important to schedule the appraisal appointment as quickly as possible to prevent any delays in your closing.

Step 5: Processing

After we receive all your documents, our mortgage department will contact you to go over the next steps, which includes ordering the preliminary title report, and coordinating with all the necessary parties to ensure your loan progresses smoothly and quickly. Once we have everything we need, your loan file will be submitted to the underwriter for review and formal approval

Step 6: Close your loan

Upon approval, we will contact you to schedule a loan document signing appointment.This appointment will generally take 30 minutes to an hour and can be done at a title company.

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