THE REFINANCE PROCESS

Step 1:  Understand your goals refinancing your mortgage.
One of the most important steps before deciding whether or not refinancing can benefit you is to determine what your objective is. Do you want to reduce your monthly payment or pull cash out of your home equity for home improvements or debt consolidation? Are you looking to go from an adjustable to fixed rate? Once you determine your goal, we can review the loan options available to decide which one best helps you achieve that goal.

 

Step 2:  Inquire online or call one of our expert mortgage loan originators.
Once you've defined your goal and researched all the loan options available, you can submit your information online or call or visit one of our branch offices  to speak with one of our mortgage experts. A loan originator 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 us to speak with your loan originator.

 

Step 3:  Select your loan program.
If you decide you'd like to move forward with the refinance, your loan originator will confirm your loan program, rate, and payment and will answer any questions you may 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 loan originator 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, your processor 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.


ESTIMATE YOUR PAYMENT

Calculate your refinance break-even point or what it would look like to consolidate your debt into one payment using our calculators .