The decision to refinance a home is made for many reasons, such as changing the interest rate, adjusting the length of the mortgage as well as many other motivations. The following is a summary of the steps involved in refinancing your home.

• Consult one of our loan officers - They can evaluate your current financial situation and discuss the programs available whch will best serve your mortgage needs.

• Apply for a Loan - Visit with your loan officer and complete a full application. You may apply for a loan before providing all documentation.

• Gather Documentation - Depending on the program which best suits your needs, documentation requirements may vary. No Income Documentation, Light Documentation, No Ratio, and many other programs require very little documentation. The following is a general list of documents needed for a fully documented loan.
  Each borrower must have:

  • Copy of Social Security Card and Drivers License

  • Last full month of paystubs with year to date earnings

  • Previous 2 years W-2’s and tax returns

  • Current statements on any/all stock, bond or retirement account

  • Last 3 months statements on any/all bank accounts

  • Names and addresses of each employer for last 2 years

  • Names, addresses, account numbers, and minimum monthly payments on all open loans and/or accounts (cars, credit cards, etc.). Not needed to begin the process

  • Deed(s) of Trust for property owned

  • Copy of current mortgage note of release of lein.

  • Complete copy of divorce decree signed & recorded (if applicable)

  • Bankruptcy, Foreclosure or Notice of Default papers (if applicable)

  • Money for credit report and appraisal

  • Copy of Homeowner's Insurance Declaration page.

• Appraisals, Surveys and Other Things - It is our responsibility to order your appraisal, surveys and private mortgage insurance (if applicable). It is your responsibility to provide your loan officer with a current Homeowner's Insurance Policy Declaration page.

• Processing, Underwriting and Closing -   Processors gather, organize and verify documentation. Underwriters make sure the submitted loan package meets lender's guidelines. Underwriters and processors work together with the lender's closing department to ensure that the closing documents and the transfer of funds are received by the title company in proper order and in a timely manner for the closing and funding of the loan.