If you’re wondering how to refinance your mortgage, simply use this mortgage refinancing checklist to remove all the guesswork and get started right away.
- Identify why you are refinancing. Is it to pay off your home faster? Lower your monthly payment? Fund a home improvement project? Recognize your goals so you can choose the right plan for you.
- Take a look at your current mortgage. Take account of your outstanding balance, the number of years remaining, and your current interest rate.
- Take a look at your credit report. Verify that there are no errors on any of the credit bureau reports. Raising your score may qualify you for a lower rate.
- Take into account the refinancing cost.
- Collect all of the documents you will need for this process: pay stubs, W-2s, tax returns, two months of bank statements, proof of homeowners and title insurance, and a statement of your assets and debts. Many leaders can now electronically pull your income and asset statements, so be sure to ask your mortgage broker what is needed.
- Have a conversation with Scott Bennett at 503-703-4699 or firstname.lastname@example.org to talk about closing costs and fees so you can figure out if refinancing is a good move for you.
- Take a deep breath and relax.
Have questions? Feel free to reach out to Scott Bennett at 503-703-4699 or email@example.com to talk about your current situation.