Refinancing a Home

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What You Can Expect

Initial Loan Interview

Financial Analysis & Loan Application

We look at your current loan program, rate and financial situation to help determine which product, loan term and rate would be best for you. We determine the break-even point between your current and new loan, taking into consideration all costs involved. After you review your options, we can lock in the rate and program you choose.


Credit Review

We will run your credit and go over your current payments with you, as well as address any inconsistencies, items that need to be paid, or items you dispute.


Loan Decision

We will run your loan through an automated decision engine to determine what items will be needed to submit your file to underwriting.


Loan Estimate

We will review the closing costs and estimate how much money you will need to bring in to close, or what proceeds you will receive from the refinance. We can also target the loan amount so that you do not bring any money into closing.


Outstanding items needed

A list of items we still need to collect from you will be provided.



We will discuss the appraisal process and review any potential value or repair challenges that may arise.


Process Flow

We will review the communication system and process flow. A team of people will be working on your behalf. We will talk about roles and responsibilities of all parties.





Financial Stability Plan

We’ll supply you with a guide to mindful spending with tips for a stronger savings and financial plan.

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Items Needed

Borrower(s) Information

  • Names as they are to appear on the deed
  • Social Security Number(s)
  • Drivers’ license(s) or other photo ID‘s
  • Home address(es) for the past 2 years


  • Paycheck stubs for the last 30 days• W-2’s and Personal Tax Returns for last 2 years
  • Employment information for the past 2 years
  • Social Security or retirement award letters
  • If self-employed or commissioned, personal and/or business tax returns1

Assets/Bank Statements

  • Most recent 2 months statements from banks or other financial institutions
  • Source of any non-payroll deposits
  • Balances for each checking, savings, retirement and asset accounts
  • Fully executed gift letter and proof of transfer

Real Estate Owned

  • Property addresses for real estate you own
  • Mortgage loan statements for mortgages
  • Other insurance and HOA statements for all properties

Other Information

  • Copy of bankruptcy filing and discharge
  • Copy of divorce decree and proof of child support
  • Certificate of Eligibility and DD214 for Veterans
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Refinance Communication System

Our Commitment to You

  1. Initial Loan Interview
    After we review your loan application and documentation, we will let you know if anything additional is needed before we can move forward on your loan. We will also set expectations for future communication and processing time-lines.
  2. Conditional Loan Approval
    After underwriting reviews your file, they will issue the initial loan approval with a list of conditions that we will need to work on before we can finalize your file.
  3. Appraisal
    We will notify you of value, potential changes required and if any repairs are needed.
  4. Clear to Close Submission
    After we have obtained all of the conditions listed on the initial loan approval and confirmed your terms, we will submit your file to underwriting for final sign off.
  5. Closing Process
    1. Issuance of Closing Disclosure:
    After we receive final underwriting approval, we will send the closing disclosure. The escrow officer will confirm the funds you need to bring into closing or the funds you will receive from us after closing.
    2. Docs Drawn & Signing Arrangements:
    The escrow officer will schedule your signing.
  6. Loan Funded
    After our funding department has confirmed that all prior to funding conditions have been met and that all documentation is signed properly, we will fund your loan and the new deed of trust will be recorded against your property.
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Do's and Dont's When Refinancing a Home

Rules to Live By

 Advise your lender if any information you’ve provided changes.
Keep records of all bank transactions, especially if you transfer large amounts from one account to the other.
Get homeowners insurance with coverage equal to the mortgage amount or  replacement value of your home.
Protect your credit score. You want to stay on top of any little changes. 
 Make any significant purchases during the mortgage process – including furniture.
Consolidate credit cards or get any new lines of credit. This can negatively affect your debt-to-income ratio.
Pay off collections or charge-offs. This can actually cause your credit score to drop.
Take on any new debt or cosign for another borrower. This could affect your credit. 
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Borrower Expectations

The information you provide to us needs to be as accurate as possible. Employment, income and asset information needs to be current and reliable. Please do not exaggerate or provide inaccurate information. Let us know if you took any time off, work non-paid or were on disability anytime within the last two years. We need to have a complete and correct application when we submit your file to underwriting. Here are some tips to remember when applying for a home mortgage:

Be Honest
Provide Information ASAP
Always Ask Questions
Be Patient

Elderly Couple
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Financial Stability Plan

Spend and Save Mindfully

Use a working budget to ensure that you are paying your fixed expenses first and allocating enough for variable expenses. Identify ways you are spending money unconsciously and identify ways you can be more efficient.

Family’s Well-Being

Maintain adequate life insurance coverage to continue current lifestyle if your family is ever left behind.

Build Future Wealth

Create a comprehensive long-term plan to invest and diversify your money. Consult a financial advisor about retirement and education planning to ensure your investments are strategically aligned for the future.


Reduce Your Debt

Pay off credit cards monthly or have a plan to do it over a specific period of time. Create a plan to pay off your mortgage and other installment loans early.

Preserve Your Estate

Have a will or a trust. Meet with an estate planner to determine if a trust or a will meets the needs of your family for both life and tax planning.



Our goal is assist in educating consumers on how mortgage finance may affect their general life’s financial plan. We are not a licensed Financial Planning firm. Please contact your financial advisor for further review.