- Review Your Finances
Make sure you understand all your current financial obligations so you can confidently plan for a refinance. Remember to consider things like your current equity, your mortgage rate, and your credit score.
- Weigh the Pros and Cons
If you’re planning on refinancing your loan, carefully consider if this is the right move for you. For example, make sure the savings you could get from refinancing your loan exceed the costs associated with closing on your refinance. One of our lending agents can help you determine if you can benefit from a refinance.
- Gather the Documents
We all know the importance of paperwork. You may have to provide documents of your financial history such as bank statements, paystubs, W2 forms and tax returns, so the more you collect ahead of time, the smoother the application process will be.
- Apply for a Refinance
There are a lot of refinancing options available. To ensure you’re getting one that meets your needs, one of our lending agents can help you review what’s available and decide what steps to take next.
During closing, your lender will fund your new loan and your closing agent will fulfill your existing loan. Shortly after, your new mortgage will come into effect!