Refinance Timeline
Refinance your mortgage in 21-30 days and start saving money on your monthly payment.
START REFINANCEWhy Refinance?
Lower Your Rate
Reduce your interest rate and save thousands over the life of your loan.
Lower Payment
Decrease your monthly payment and improve your cash flow.
Shorten Term
Pay off your mortgage faster by refinancing to a shorter term.
Refinance Process: 21-30 Days
Refinancing is typically faster than a purchase because you already own the home.
Application Submitted
Complete your refinance application online in about 15 minutes.
What You'll Need:
- Current mortgage statement
- Property address and estimated value
- Employment and income information
- Social Security number for credit check
Documentation Gathering
Provide financial documentation to verify income and assets.
Required Documents:
- Last 2 years W-2s or tax returns
- Last 30 days of pay stubs
- Last 2 months bank statements
- Homeowners insurance declaration page
- Photo ID
Appraisal Ordered
An appraiser will assess your home's current market value.
What Happens:
- Appraiser schedules visit to your home
- Interior and exterior inspection (30-60 minutes)
- Comparable sales analysis completed
- Appraisal report delivered to lender
Underwriting Review
Your loan file is reviewed by an underwriter for approval.
What Happens:
- Income and asset verification
- Credit report analysis
- Appraisal review
- Title search completed
- Respond to any conditions promptly
Clear to Close
Final approval received! Your refinance is cleared to close.
What Happens:
- Final approval from underwriter
- Closing date scheduled
- Final loan documents prepared
- Payoff amount requested from current lender
Closing Preparation
Final steps before your closing appointment.
Your Tasks:
- Receive Closing Disclosure (review carefully)
- Arrange payment for closing costs (if any)
- Confirm closing appointment time and location
- Gather required identification
Closing Day! 🎉
Sign your new loan documents and start saving money!
What Happens:
- Sign new loan documents (30-60 minutes)
- Pay closing costs (if bringing cash to close)
- Old loan is paid off automatically
- New loan is recorded with county
- Start enjoying your lower payment!
Mortgage Refinance Benefits: Lower Rates, Payments & Terms
How much can I save by refinancing?
Savings depend on your current rate vs. new rate, loan amount, and how long you plan to stay in the home. Even a 0.5% rate reduction can save you hundreds per month and tens of thousands over the life of the loan.
What are the costs to refinance?
Typical refinance costs range from 2-5% of the loan amount, including appraisal, title fees, and lender fees. Many borrowers roll these costs into the new loan or choose a slightly higher rate to cover them.
Do I need an appraisal?
Most refinances require an appraisal to determine current home value. Some streamline refinances (like FHA Streamline or VA IRRRL) may waive this requirement.
Can I refinance with bad credit?
Yes! While better credit gets better rates, we offer refinance options for credit scores as low as 580 through FHA streamline programs.
Should I refinance to a shorter term?
Refinancing from a 30-year to a 15-year mortgage typically offers a lower rate and builds equity faster, but increases your monthly payment. We'll help you analyze what makes sense for your situation.
Ready to Start Saving?
See how much you can save with a refinance. Get your custom rate quote in minutes.