Refinance Process Overview
After reviewing loan products with your loan officer, they will assist you in completing the application and share the disclosures with you. Once you sign them and upload your necessary documents for approval, your loan application will be processed through our automated underwriting system.
Once approved through our automated underwriting system, we review and confirm the loan’s rate and pricing for your approval to lock it in. Loans are typically locked for 30-45 days. This time is estimated based on variables, such as self-employment, the overall difficulty of the loan, and if an appraisal is needed.
Once the loan is locked, you will receive a full disclosure package to review and sign electronically. We open title and escrow, order an appraisal (if needed), and submit your loan into underwriting. Typically, once the loan is approved, a few additional items are needed. Our underwriters complete the final review and issue clear to close, which allows us to move forward into our final steps.
Once we are cleared to close, the loan documents will be drawn and we will schedule a notary to complete the signing at your home. Your loan officer will review your loan documents before you sign them and answer any of your questions.
After the notary completes the signing, the loan documents are sent to our funding team. They then double-check the execution of the papers and set the loan up to fund. After funding is completed, you will receive a funding notification and information about your first mortgage payment. We will send you our Rate Protection Certificate and start to monitor your interest rate for lower rate availability.