1
Goals And Quick Strategy Call
We talk through what you want to change and whether a refinance makes sense.
- We cover your goals: lower payment, better rate, cash out, term change, or removing PMI.
- I ask for a few basics to frame options, including estimated value, current loan, rate, income, and payment comfort.
- If it looks promising, we move to the application so I can work with real numbers.
2
Application
You complete the application so I can review your full financial picture.
- You complete the mortgage application and I pull your credit.
- You upload documents like income, assets, and ID.
- With accurate information in hand, I can give you clear and reliable options.
- We confirm loan type, term, and rate strategy.
3
Initial Estimate And Break Even
I show you refinance options based on your actual details.
- You’ll see side by side scenarios with estimated rates, payments, and costs.
- We look at a simple break even so you can decide if the refinance is worthwhile.
- For cash out refinances, we confirm the cash amount and target payment.
4
Processing And Document Collection
We prepare the file and submit it for underwriting.
- We organize and verify income, assets, and credit.
- Any required explanations are collected.
- Title work and verification items are ordered as needed.
- Once the file is complete, it is submitted to underwriting.
5
Underwriting Review
Underwriting reviews the loan and issues a conditional approval.
- Income, credit, property, and loan structure are reviewed.
- Most loans receive conditional approval with a short list of remaining items.
- While waiting on the appraisal, we work through conditions together.
6
Home Value And Appraisal
The property value is confirmed.
- Depending on the loan and qualifications, we either order a full appraisal or receive an appraisal waiver.
- Appraisal waivers depend on available property data and the loan scenario.
- Once value is confirmed, we finalize any remaining loan details.
7
Final Approval And Clear To Close
The loan is finalized and cleared for closing.
- Any remaining conditions are completed.
- The file is submitted for final approval.
- Once approved, the loan is cleared to close and closing is scheduled.
8
Closing Disclosure And Final Numbers
You review the final loan terms before signing.
- You receive the Closing Disclosure showing your final rate, payment, and costs.
- We review it together to confirm everything matches expectations.
- Any funds due at closing are typically brought by wire or cashier’s check.
9
Signing, Funding, And New Loan Begins
You sign at the title company and the refinance is completed.
- Signing takes place at the title company selected (or with a mobile notary if needed).
- The new loan funds and pays off your existing mortgage.
- In most cases, your first payment is due the second month after closing.
- You’ll know exactly when payments start and how escrow is handled.