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About Shopping for Home Equity Loans
How to Get a Home Loan With Bad Credit
About Home Equity Loans for People With Bad Credit
About Home Equity Loans & Rental Property
About Home Equity Loans & Taxes
About Home Equity Loans
About Home Equity Loans for Mobile Homes
About Home Equity Loans for Disabled People
What Is Equity Valuation?
How to Stop Home Foreclosure
How to Stop Mobile Home Foreclosure
How to Apply for a Loan
What Happens When You Refinance Your Home?
Refinancing Your Home
What License Is Needed to Be a Loan Officer?
About Loans for People in Foreclosure
How Long Does Foreclosure Stay on Your Credit?
Types of Bank Loans
How to Invest Home Equity in Stocks
How to Obtain Funds With a Home Equity Line of Credit
What Are the Repayment Terms for a Home Equity Line of Credit?
What Is a Foreclosure Sale?
About Incentives for First-Time Home Buyers
What Is Foreclosure?
Credit Scores Needed for Home Mortgage
About Government Loans for First-Time Home Buyers
Refinancing is a way to take the remaining loan balance and have it recalculated at a lower rate so that y… More
Refinancing is renegotiating a bank loan at a lower interest rate for a given period of time. Better under… More
Mortgage refinancing is an excellent financial tool for reducing mortgage payments in certain circumstance… More
Refinancing makes sense every time there is the slightest tick down in interest rates, as long as the fees… More
Mortgage refinancing is any mortgage activity, usually when a home owner takes out a second mortgage for r… More
Refinancing your home requires filling out an application, providing income documentation, getting the hom… More
Refinancing a house is a very big decision that should only be done if it is a financially sound decision.… More
Noticing a drop in interest rates and then making the decision to refinance are the first steps in refinan… More
The interest rate you paid when you purchased your vehicle may have been good at that time, but it may be … More
When calculating the cost of refinancing a home, do a good faith estimate and note the inclusion of state … More
Refinancing a home mortgage can relieve a lot of stress from your home budget, but you need to know how so… More
The best way to avoid foreclosure is to make mortgage payments on time and in accordance with the mortgage… More
Chapter 13 bankruptcy allows the debtor from 3 to 5 years to restructure his finances to satisfy obligatio… More
When you have bad credit and need to get a loan for a car purchase or anything else, you will typically ha… More
Summary: Refinancing your home requires filling out an application, providing income documentation, getting the home appraised and having the loan processed by the lender. Find out how refinancing a home is similar to the original loan process with information from a mortgage broker in this free video on home loans.
Matthew McKillen brings 21 years of industry experience in arranging loans for his clients. He has worked in financial services senior management positions in mortgage banking...read more
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"Hi this is Matt McKillen with Innovative Financial Group. The question posed to me today is how do you refinance your home? Refinancing your home is almost the same identical process that you took when you purchased your home. You'll apply for a loan with a lender or a mortgage broker and in turn what entails in the process is that they'll have to collect new income documentation based on the current time, not from when you bought your home which usually entails a couple of pay stubs, maybe the last two years W-2's. There will have to be a new appraisal done on your home which means that they will send an appraiser out to get the new market value of your property based on sales in your neighborhood within the last 3 to 6 months. Once that appraisal's back, they've processed your income documentation, the loan is then formally submitted to an underwriter who will in turn will review the package to make sure that you can qualify the new loan payment. In looking at that, they take a look at your credit history, how much you have in other debts, your ability to repay the loan, if everything comes within the guidelines, what will happen at that point is the underwriter will approve the loan and you'll go to closing. When you go to closing, they will have ordered a payoff on your existing mortgage and from the new loan, they'll turn around pay off the old loan that you have and all the closing costs that were incurred in refinancing your mortgage. Again my name is Matt McKillen, I'm with Innovative Financial Group."
eHow Article: Refinancing Your Home
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