Refinance Loan Process
GETTING THE NUMBERS RIGHT
First we want to determine if it even makes sense to refinance.
We talk with you about pertinent details such as how long you think you will be staying in your current home and what your goals and objects are in refinancing. For example, are you looking to get a lower payment for cash flow purposes or are you trying to get the loan paid off earlier.
Some companies just try to fit you in a loan that is convenient for them — they don’t even bother to show you options. There are always options and depending on your situation, a good loan consultant will show you a side by side comparison of your existing loan and several other options based on our discussion.
Should you pay points or maybe you would be better off doing a loan with No Closing Costs? You need to consider what your payback period will be.
We will fully explain your options with a specialized piece of software called Mortgage Coach. We do this in the form of an audio clip walking you through the whole thing in plain English.