September 22nd, 2018 8:52 AM by Jackie A. Graves
Who Will Be Involved
For any type of
refinance your primary contact will be your lender, although other
professionals – such as real estate appraisers and mortgage underwriters – will
play important roles. Learn more about who’ll be involved in your
transaction and why.
When you meet with your
lender to apply for a refinance, you’ll need to provide quite a lot of personal
information, just as you did for your home purchase. These documents,
including your W-2s, bank statements, and tax returns, will allow your lender
to determine your eligibility.
the Documents Involved
When you purchased your
home, you reviewed and signed many documents prior to and at closing.
When you refinance your mortgage, you’ll be required to do the same as this is
a new loan with new rates and terms. Take some time to review these
documents again and refresh your knowledge.
mortgage can save you hundreds of dollars per month, but before you dive in,
it’s important that you’re aware of all associated costs. You’ll want to
work closely with your lender to do a cost-benefit analysis and determine
whether refinancing makes financial sense for you.
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