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Our top priority is helping families through the mortgage process by providing education and strategy.

Refinance Guide

Step 1: Get Ready to Refinance

How do you know if refinancing is the right move for you? Here are three reasons why home owners choose to refinance their mortgage:

  1.     To receive a lower monthly payment
  2.     To take out cash
  3.     Or to shorten the lifespan of the mortgage

Sound like something you’re interested in? Give our team a call to get started! All we’ll need from you is your credit score, your current monthly mortgage payment, the value of your home, and your debt-to-income* ratio.

 

Step 2: Choose the Best Option for You

Does one of these three reasons sound like it would help you financially? If yes, it’s time to talk to one of our team members about which option would benefit you the most.

 

Step 3: Officially Apply

Once you decide which option you’d like to take advantage of, it’s time to formally apply with one of our loan officers. Schedule an appointment and begin to gather your financial information like your two most recent W-2 forms, two recent pay stubs, and a bank statement from the last two months.

 

Step 4: Get an Appraisal

Once you send in your application, your appraiser will start your appraisal. What does this mean? Simply put, your appraiser will do a final check on the value of your home and nearby homes in the area to ensure you’re getting the best value on your loan.

 

Step 5: Close on Your New Loan

Once your refinance is approved, it’s closing time! Don’t forget these important documents when you close with your loan officer:

  •      A government-issued ID
  •      A check made out for the total amount of closing costs, if needed
  •      Your Closing Disclosure

 

Step 6: Manage Your Mortgage

Congratulations on closing! Now that you’ve received a refinanced loan from one of our agents, it’s up to you to make sure you make payments on time. Feel free to give your agent a call at any time should any questions or issues arise.

*Debt-To-Income (DTI) ratio is monthly debt/expenses divided by gross monthly income.

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