MORTGAGE KNOW HOW
Are you looking to refinance?
There are many smart reasons to refinance, from lowering your interest rate and monthly payment to cashing out your equity for an upcoming project. Before you begin, you'll want to make sure it makes sense. Our lenders will evaluate your situation and guide you to the next page.
Should you refinance?
There are some costs associated with refinancing, but if you will save more than what it costs to redo your loan then you benefit in the long run. It is easy to calculate the benefit of a lower interest rate, but you must also consider one key variable, "How long do you plan to stay in your current home?" If the answer is 5 years or more, then a refinance can probably save you money. If you think you will move or upgrade to a bigger home in the near future, you may want to put your refinance plans on hold. Our loan officers can help you determine if a refinance is the best decision for you.
Getting started
Getting started is easy. Just complete a home loan application and submit it to us. We will review it and then make sure we find a home loan that saves you money. Have questions? Contact a loan officer to discuss your situation and we can review your refinance options with you one-on-one.
Review your Loan Estimate
Once you have applied to refinance your home loan, you will receive a Loan Estimate. The Loan Estimate contains crucial information regarding your home loan. It gives you a complete picture of the costs that you will incur to refinance your home loan. Learn more about your Loan Estimate.
Processing your home loan
Now, it's our turn. We will begin verifying your income and debt information and preparing documents. At this point, we will also order an appraisal to determine the current value of your home. Processing times for home loans vary and often depend on how quickly the appraisal can be completed, but plan on between 3-4 weeks.
Closing your loan
We will keep you informed on the progress of your home loan and schedule a loan closing as soon as everything is in order. You will receive a Closing Disclosure at least 3 days before closing. The Closing Disclosure is the one-stop shop when it comes to your home loan. You can see what your monthly home loan payment will be, your monthly escrow payment, total loan and closing costs and more. Learn more about the Closing Disclosure.
Post-closing
Most of the time, your only concern after the loan closes is making your monthly payment. But, if you do have questions, you can simply contact us. We service 100% of the loans we make, which means if today, tomorrow or years down the road, you have a question or concern about your loan, we're right here to serve you.
