Refinancing 101

May 17, 2021

Thinking about refinancing but not quite sure what all that entails? You’re in the right place! Read on for some beginner information to help you on your refinance journey.

What is a Refinance?

First off, what is a refinance? Simply put, a refinance involves paying off one loan with the proceeds from a new loan using the same property as security. A refinance typically will result in a new interest rate, payment schedule, and loan terms. Refinancing helps you reduce your loan balance faster, allows you to own your home free and clear sooner, save more money per month, tap into equity and enjoy peace of mind! 

What Do I Need to Refinance?

Once qualified, you’ll need to submit some required documents in order for your Loan Originator to get started on your new loan. Those include your warranty deed, title insurance, homeowner’s insurance and flood insurance polices, property survey, mortgage payment coupon and association or condo payment coupon.

How Do I Get Started?

Interested? Our qualified Loan Originators are ready to help! The first step is to submit an application which you can find here: https://interlincmortgage.com/apply-now