Welcome to A Refinance Loan

Your number one choice for a Refinance Loan. We offer the lowest possible rates for Refinance Loans, Debt Consolidation Loans, Second Mortgage Loans and Home Equity Loans.

With the interest rate being at an all time low, the capability to refinance your mortgage loan could easily reduce your monthly payments. Other aspects to consider when thinking of getting a refinance loan is what tax bracket you would be classified under and the length of time you are planning on staying in your home. You want to make sure that the cost to refinance will be recovered over the term of the loan. Apply online for a refinance loan now and one of our highly qualified loan consultants will get back to you within 24 hours. With our immense lender network, we are able to offer some of the lowest good credit refinance rates as well as great rates for people who have had credit problems in the past.

Click here to receive a free refinance loan quote or Call us toll free at (866) 245-7510

 

Our refinance loan process is designed to be easy and efficient. Here is an outline of what happens during the loan process.

The Refinance Loan Application Process

After completing your online refinance application you will be contacted by a Loan Consultant  usually within 24 hours during the work week or on Monday if you applied on a weekend. Please try to fill out the online refinance loan application as completely as possible in order to expedite the processing of your refinance loan, or mortgage loan.

The Pre-Qualification Process

The Pre-qualification tells you roughly what your interest rate might be and how much you may qualify for. A pre-approval lasts up to 24 hours and takes your credit, income, assets and liabilities into account. It tells you exactly how much you can afford and is subject to verification of the documents you have to provide.

Documents

It is important to provide complete materials with your mortgage application so A Refinance Loan can expedite your loan process. Use the convenient refinance checklist to help you gather the information we need to assess your financial status. In some cases we will need additional or slightly different documentation. Depending on your situation, you may qualify for a loan program that requires no documentation at all.

Please make a copy of each document for A Refinance Loan and keep the original. A good idea would be to organize these documents into a file so you can easily find them for the loan process.

• Employment

  • If you are employed

    • A copy of the most recent month's pay stubs

    • W-2 forms from the last 2 years

  • If you are self-employed

    • Year-to-date profit and loss statements prepared and signed by your accountant

    • Complete copies of your 1040 tax returns for 2 years (including all schedules)

• Other Income Sources

  • If you are relying on child support or alimony income to support your request for credit

    • Evidence of income (12 months of cancelled checks or bank statements showing deposits)

  • If you receive social security or pension income

    • A copy of the entitlement letter and terms of payment

    • A copy of the most recent social security or pension check

• Assets and liabilities

  • Assets (including checking and savings accounts, money funds, stocks, bonds, investment properties, etc.)

    • Copies of the statements for all accounts for the last 2 months (all pages)

    • If you are receiving a gift for any part of your down payment or closing costs, provide a gift letter and proof of the donor's ability to provide the gift (the donor's bank statements)

    • If you are leasing your current residence, provide a copy of the lease

  • Debts and liabilities (including personal loans and charge accounts, mortgages, stock pledges)

  • Explanations of any derogatory credit items.

  • If divorced, please provide a copy of the divorce decree.

Approval

After receiving approval, it may be necessary to order an appraisal of your home depending on what type of loan you are getting. A Refinance Loan will arrange for a licensed, professional appraiser to contact you in order to estimate the market value of the property.

Escrow will be opened at this stage in the loan process and a preliminary title report will be ordered. Your escrow officer assists in the transaction by managing all funds and handling the signing of the refinance loan documents.

Underwriting

Upon receipt of the title report, appraisal (if needed) and your completed refinance loan package, your file is submitted to underwriting for final approval. When all items have been received and signed off by the underwriter, your file will be approved for ordering refinance loan documents.

Signing Loan Documents

A mobile notary will come to a location that is convenient for you to assist you in signing. Once you have completed signing, the notary will have the documents delivered back to our office. The following states require documents to signed at an attorneys office: CT, GA, KY, MA, RI and VT.

Funding

Once the refinance loan documents are received, they are reviewed and the loan is set to fund. Most refinance loans have a legal waiting period of three business days before the loan can fund. The funds are wired to the escrow company and your escrow officer disburses the funds and completes a settlement statement. The escrow company then records the deed and mortgage with the local county clerks office. After the loan has recorded, you will receive any funds do to you for a refinance loan or receive the keys to your home for a purchase, depending on your type of loan. At this point the refinance loan process is officially over and your loan is closed.

The refinance loan process typically takes about 3-4 weeks depending on how fast the you can send in the required documentation. However, we have closed loans within 5 days of an online refinance loan application.