The ReFi Sixfold Process

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November 2019
The ReFi Sixfold Process
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Okay So youve been through this before and now
youre doing it again! Although there are steps
in the Re??nancing process that mirror the
original mortgage process, it can be a smoother
(and less hair-pulling screaming) matter. Here
are some ways you can ensure that youve checked
off all the boxes in the Re??nancing checklist
so you may close in a stress-less and timely
manner. Click Here to download our Re??nance
Guide. Here are some of the steps and topics
covered in the Re??nance Guide are Compare,
compare! Youre the customer- right? So to get
the best get out there and compare! Meet with
different Mortgage Lenders, compare the
different Mortgage Loans (weigh out their pros
cons), examines fees costs lurking in the ??ne
print (mortgage rates, APR, closing costs,
etc.), and the term of the Mortgage. Lock-in
that rate! Remember, Mortgage Interest Rates
change DAILY (depending on how the market is
doing). With that being said, once youve
shopped around and located that perfect Mortgage
Interest Rate, lock it in! And dont worry, just
because youre Locked-in doesnt mean that you
literally
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are If down the road you wish for a change in
your Mortgage Terms, certain adjustments may be
possible. Have your paperwork ready! In order to
take out any loan, youll need to have those
??nancial documents ready to go! Youll need at
least 2 years of the following Tax returns
(personal business) W-2s and/or
1099s Paystubs Processing Once all the
documents are obtained from you, the processing
team will get crackin. Within a few business
days, you should receive a follow-up to make
sure everyone is on the same page and that
nothing is MIA. The Final Approval This is the
double-checking process where the underwriting
team goes in with a ??ne-tooth comb to approve
the paperwork and the terms of the loan. Get
the Funds and the Closing! After the Mortgage
process is agreed upon, youll attend a closing
where youll review the closing documents and
sign- off on the terms. Then, viola! Youre a
homeowner! (Well, technically you already are
one, but on better conditions!) Thats it in a
nutshell! To learn more about the ReFi process,
visit us here.
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