What is the Refinance Process?
One size does not fit all, especially in the mortgage industry. Speak to one of our Mortgage Professionals and find out if refinancing is right for you.
Refinancing can help you lower your monthly payments, cash out on built up equity, or negotiate a better term loan.
Everyone has different needs, Home Financial Group will tailor a strategy for you and help you every step of the way.
Snapshot of your Financial Life:
Do you need to lower your monthly payments? Have equity on your home and need cash to pay other bills? Or maybe you want better loan terms with a lower interest rate. Understanding your needs is the first step of refinancing.
Get your Financial Ducks in a Row:
An HFG Mortgage Professional will be happy to provide you with a list of all the necessary documents needed for your refinance. Common documents include: pay stubs, income tax statements and W2/1099 forms for the last two years, just to name a few.
Find the right Mortgage Professional:
Like everything in life, finding the right person or company to work with, can make or break your refinance experience and your long term future. Whatever your needs are, Home Financial Group is infamous for integrity and always putting the client first.
Appraisal and Inspection:
Just as was done for the purchase of your home. A lender needs to make sure how much your home is worth in the market and if it is in good shape. An HFG Mortgage Professional will assist you in ordering an independent and professional Appraisal of your property.
Entering the Home Stretch (Familiar Territory)
Prior to closing, your Home Financial Group Mortgage Specialist will present to you with a Closing Disclosure. Unlike your purchase, when you refinance, no money is needed at closing, the closing costs are refinanced into your mortgage and are payed during the life of the loan. Which means no money needed at closing!
The day is finally here! You will review and sign your loan documents and complete the refinance of your home. In the case of a cash-out refinance, you will receive a check for funds owed to you as soon as the loan documents are signed.
As you can see, there are less moving pieces and factors in a refinance than when purchasing a home.
Remember, refinancing your home can be a live saver when you are in need.
A Home Financial Group Mortgage Professional is ready to help you every step of the way!
Free Consultation for Home Buyers or Borrowers
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Tips for Home Buyers
We understand all the ups and downs of the home buying process. That means that we will supply you with as many tips on mortgages as possible!