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Refinance Mortgage Loan Application Introduction:

The interest rate being at an all time low, infers that the capability of mortgage refinance loan to decrease your monthly repayments. The tax bracket you may be in, while you reside in your current home should be considered, when obtaining refinance loans.

You should make sure that the outlay of refinance would be recovered during the period of loan. You can submit an application online for a refinance loan and a qualified loan consultant will revert to you in 24 hours.

Application Process:

After completion of your online refinance application, a loan consultant will contact you usually within a day on weekdays or a Monday if you applied over a weekend. Please try to finish the online refinance loan application with all details so as to pace up the processing of your refinance or mortgage loan.

Pre-Qualification Process:

The Pre-qualification informs you in the region of what your interest rate might be and what amount you may be eligible for. Pre-approval is valid for up to 24 hours and takes credit, income, belongings and liabilities into account. It informs you precisely how much you can be given and is subject to validation of the documentation you have to provide.


Upon grant of the title account, assessment and the completed refinance loan package, your file is presented to insurance for concluding approval. When everything has been signed off by an insurance underwriter, your record is accepted for refinance loan documentation.


Make use of the appropriate refinance checklist to facilitate the information required to review your economic status. Depending on this, you may qualify for a loan program that requires no documentation. It would be wise to have a copy of all documents for the loan and you can retain the original. A good idea would be to place these documents in a file, so that you can trace them without a problem.


After receiving approval, it may be necessary to arrange a valuation of your home depending on the type of loan you are to receive. A refinance loan lender will arrange for an experienced evaluator to communicate with you in order to estimate market worth of your property.

Signing of Documents:

A notary will come to where you are situated to assist you with signing. When you have signed, the notary will deliver the documents back to the workplace. It is good to learn about different types of mortgages before you apply for a loan. In reality, it makes sense to see the forms of mortgage loans available before you start the house-hunting process. The type of mortgage you choose will directly affect the amount of your mortgage payment.


When refinance loan papers are obtained, they are examined and the mortgage is set to finance. Most refinance loans encompass an effective waiting period of three business days. The funds will be forwarded to the escrow company where the escrow officer would complete the settlement statement. The escrow company records the mortgage at the local county clerks office. After the loan is recorded, you will receive the funds or the keys to your home in case of a purchase, depending upon the loan of your choice. This procedure takes approximately 3-4 weeks depending on how quickly you submit the essential documents.

10 Things to verify Before You submit an application:

1. That information given in the application is authentic, accurate and of the date set forth to the signature. Any planned or negligent dishonesty of information in the application could result in civil action. This includes monetary amends, to any individual who may suffer any loss due to any falsification he has made on the application, and includes criminal punishment.

2. The loan applied for pursuant to this request is protected by a mortgage or deed of trust on the property stated in the application.

3. The applicant should substantiate that the property will not be utilized for any illicit purpose.

4. Any statements furnished in the application are made for obtaining a residential mortgage loan.

5. The property will be occupied as recommended in the application of the lender. Their successors or designate might perhaps hold an original or electronic documentation of the application, whether the loan is accepted or not.

6. The lender, its agents, brokers, and all concerned parties may rely on the information enclosed in the application. However, he is indebted to modify or append information supplied if any of the material that he has acted for must alter before the closing of the loan.

7. He should also verify that, if his disbursement on the loan becomes negligent, the lender, their services, successors and assigns or any other rights or remedies that it has may relate to such negligence. This incorporates reporting his name and account information to one or more consumer reporting agencies.

8. Ownership of the loan or regulation of the loan account can be transmitted, but notice may be required by law.

9. Authentication should comprise, if the lender or its agents, brokers and insurers have made any statement or guarantee, spoken or disguised, regarding the property or the value of the property.

10. Transmission of the application as electronic support ought to consist of his electronic signature, as the circumstances are clear in appropriate federal or state laws. The fax transmission of this application containing a true copy of his signature shall be as efficient, enforceable and applicable, as though a paper version of the application was sent possessing his original written signature.

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