It is our goal to refinance your home and make you a customer for life
So….you’re interested in refinancing!
While refinancing usually doesn’t have the same sense of urgency as a purchase, we understand that there are still many instances in which a firm closing date is just as important. We handle our customers who are refinancing with the same focused attention that our purchase customers receive. Once locked, you’re never in danger of losing your interest rate.
In addition to the purpose of the refinance (pulling out cash or merely lowering interest rate) plus the type of property being refinanced, different guidelines will apply. A complete review of the credit documentation and property information provided will help determine which loan program best suits your needs.
Since refinance loans are structured around the value of the subject property, the appraisal is perhaps the most important element of a refinance loan. Each loan product has specific appraisal requirements while there are some programs that don’t even require an appraisal!
Most companies today use national Appraisal Management Companies (AMC’s) which utilize giant pools of contracted appraisers who are randomly assigned appraisal orders. In order to provide better customer service and receive appraisals more quickly, Georgetown Mortgage does not use AMC’s, choosing instead to manage appraisals internally and work with local appraisers. This ensures your property is being fairly assessed by appraisers who are the most familiar with the types of homes and trends in your particular geographic area.
To get started, please call us at (512) 930-7888! Our dedicated loan officers work with teams of highly experienced processors, Team Leads and loan production partners who work efficiently together to move your loan quickly through the system. The first step involves completing a thorough loan application, running a credit report and discussing what credit documentation will be required. Just like all mortgage loans, refinances undergo the same basic process in that upfront documentation is reviewed by an underwriter and a conditional approval is issued. When all pieces of information requested by the underwriter and 3rd party documents (appraisal, evidence of insurance, title work, etc.) are received, the loan is submitted back to the underwriter for final approval.