Refinancing Your Property

Looking to lower your interest rate, adjust the length of your loan term, or switch from an adjustable-rate to a fixed-rate mortgage? Refinancing your loan may be the way to go. Click below to learn more today!

The Refinancing Process

There are many reasons why you may want to refinance your mortgage. From locking in a lower interest rate, adjusting the length of your loan term, or switching from an adjustable-rate to a fixed-rate mortgage, refinancing can have many benefits.

Here’s a timeline of what to expect and some important things you should know before beginning the process of refinancing your home:

mature couple consulting with loan officer on home refinance
Want to know more, or ready to start the process? Contact Premier Plus Lending to get started, today.

STEP 1

Check Your Credit Score

Your mortgage lender will do a credit check to determine if you qualify for mortgage refinancing and what your new interest rate will be for the new loan.

STEP 2

Gather Application Docs

Your lender may need documentation to support your application, such as recent pay stubs, outstanding debts, and information about your current mortgage.

STEP 3

Choose the Best Lender for Your Situation

Every lender has different loan financing products, so it’s advised to shop around for the best refinance interest rates and loan packages.

STEP 4

Submit an Application

Once you submit an application to have your credit checked and provide income information, you may be pre-approved for refinancing.

STEP 5

Understand Closing Costs

Your lender may provide an estimate of closing costs and fees so you can determine if it makes financial sense to move forward. Refinancing closing costs may include an application fee, title insurance, lender’s attorney fees, loan origination fees, and other administrative fees.

STEP 6

Submit Your Documents

Send over all supporting documentation to see if you qualify.

STEP 7

Get a Home Appraisal

Your home will need to be appraised by an approved appraiser to determine its value. You may potentially increase your home’s appraised value by making any small repairs and cleaning up the space.

STEP 8

Sign Your Loan Documents

Once all paperwork is submitted and the loan is approved, you’ll receive a Closing Disclosure form to sign and send back to your lender. Then you will sign the loan documents.

STEP 9

Close on Your New Loan

Contact Us To Discuss Your Loan Options

We’re looking forward to helping you find the best loan options for your specific needs