The Loan Process

Below is a brief overview of the refinance process.

Each client's situation is different, so the following is only a guide:

  1. Complete the mortgage loan application, at which point the loan officer will run your credit report.
  2. You decide on what interest rate you want to lock.
  3. Complete the preliminary loan disclosures and provide your loan officer with the required documents:
    • Most recent 30 days paystubs for all borrowers
    • Last 2 years W-2s for all borrowers
    • Last 2 years signed Federal Tax Returns (all schedules) for all borrowers
    • Most recent 2 months bank statements
    • Most recent quarterly retirement account statement
    • Copies of drivers licenses for all borrowers
  4. Your loan officer submits your file to the lender for underwriting.
  5. Appraisal and title work are ordered.
  6. Lender issues a conditional loan approval.
  7. Loan officer requests any necessary documentation from the borrowers.
  8. Lender issues a clear to close.
  9. You close your refinance.