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Refinance Timeline

MORTGAGE FINDER

STEP 2: Keep Going!

STEP 2: Keep Going!

STEP 3: Almost There!

Your Guide Through The Refinancing Process

When you refinance your home loan, you want to make sure that you end up with the right rate decrease and terms that benefit you and your situation best. When navigating the refinancing process, your Loan Officer is always readily available to answer any questions you might have.

*Processing times may vary depending on the clients best efforts to provide the necessary documentation in a prompt manner to allow us to complete the processes on a timely basis

Click Above to View Details About:

This list is meant to be a general guideline to help you understand what to expect. Your loan officer will guide you through each step of the process in greater detail.

Required Documents:

Documents and Information that will be required from you in order to complete the step.

Your Tasks:

What you’ll need to be doing during this step of the process.

Our Tasks:

What we’ll be working on while you await the next step.

Processing 1 Details

Required Documents:

  • Paystubs - 1-2 year’s W2s
  • 1-2 years tax returns - 2 months assets statements
  • Letters of explanation
  • Mortgage statements
  • Proof of Taxes/Insurance on all properties
  • 2nd mortgage note (for subordinate liens)

Your Tasks:

  • Complete an application
  • Provide requested documents
  • Review, sign, & return disclosures
  • Set appointment with appraiser

Our Tasks:

  • Review credit, income, and assets for pre-qualification
  • Provide You a required documentation list
  • Generate your pre-qualification letter

Underwriting Details

Our Tasks:

During this stage the underwriter reviews all documentation submitted, conditions for any additional or missing items, decisions the loan, and reviews/signs-off all conditions.

Processing 2 Details

Required Documents:

All Documents needed to clear conditions

Your Tasks:

Provide documents requested for approval conditions

Our Tasks:

  • Review approval conditions with borrower
  • Order verifications & gather conditions
  • Deliver appraisal upon receipt & closing disclosure

Closing Details

Required Documents:

  • Funds for closing
  • Valid identification

Your Tasks:

  • Provide funds for closing
  • Meet with closing agent to sign final paperwork

Our Tasks:

  • Schedule closing with title company
  • Review cash to close with borrower
  • Fund loan to finalize transaction
*Processing times may vary depending on the clients best efforts to provide the necessary documentation in a prompt manner to allow us to complete the processes on a timely basis

Processing 1 Details

Required Documents:

  • Paystubs - 1-2 year’s W2s
  • 1-2 years tax returns - 2 months assets statements
  • Letters of explanation
  • Mortgage statements
  • Proof of Taxes/Insurance on all properties
  • 2nd mortgage note (for subordinate liens)

Your Tasks:

  • Complete an application
  • Provide requested documents
  • Review, sign, & return disclosures
  • Set appointment with appraiser

Our Tasks:

  • Review credit, income, and assets for pre-qualification
  • Provide You a required documentation list
  • Generate your pre-qualification letter

Underwriting Details

Our Tasks:

During this stage the underwriter reviews all documentation submitted, conditions for any additional or missing items, decisions the loan, and reviews/signs-off all conditions.

Processing 2 Details

Required Documents:

All Documents needed to clear conditions

Your Tasks:

Provide documents requested for approval conditions

Our Tasks:

  • Review approval conditions with borrower
  • Order verifications & gather conditions
  • Deliver appraisal upon receipt & closing disclosure

Closing Details

Required Documents:

  • Funds for closing
  • Valid identification

Your Tasks:

  • Provide funds for closing
  • Meet with closing agent to sign final paperwork

Our Tasks:

  • Schedule closing with title company
  • Review cash to close with borrower
  • Fund loan to finalize transaction
Homeward Residential Inc. is not licensed to originate mortgage loans in all states.