Step 1:  Complete our Refinance Questionnaire
This will provide us with enough information to give you an accurate quote of your potential refinance savings.  Sure, if you call, we can throw out a number for a potential interest rate, but that doesn’t mean anything for your specific situation.  We really do need this info to give you an accurate refinance estimate and it is free with no obligation to proceed with a loan.

Step 2:  Gather Items Needed for Financing
If you are ready to proceed with refinancing, we’ll ask you to gather the documents on this list so that we can get this done as quickly as possible for you.  You can send us these items by email, fax, or snail mail, or you can bring them to our office if you will be meeting with us to sign your loan disclosures.

Step 3:  Lock Rate & Sign Disclosures
Locking your interest rate early in the process is very important on a refinance loan since you are counting on a specific amount of savings.  If you don’t lock early, we could be processing a refinance loan for you that is not going to give you the savings you expect.  Also, once locked, we can print loan disclosures for you based on your locked interest rate.  If you are in the Austin area, we will meet with you at our office to handle the loan disclosures.  If you are anywhere else in Texas, we will email or FedEx the disclosures to you for signing and will review them with you by phone page-by-page before you send them back.

Step 4:  Order Appraisal & Process Loan
Once we have your loan disclosures and a check or credit card payment for the appraisal, we will get it ordered.  (Sometimes an appraisal is not required, so disregard this if your loan does not require an appraisal.)  While your appraisal is in process, we will be preparing your loan file for our underwriters.  Loan processing involves verifying all of the information in your loan application, ordering title work, ordering proof of insurance, etc., and putting it all together so that your loan is ready to go when we submit it for approval.

Step 5:  Underwrite & Approve Loan
Once your appraisal report comes in and we have sufficient value to continue with financing, we will submit your loan to our in-house underwriting team.  Turn times vary week to week, but getting initial loan approval usually takes just 2 to 3 business days.  With “conditional” loan approval usually comes a short list of “conditions” which need to be met before we can obtain final loan approval.  Sometimes we need something from you and sometimes it’s just revisions to the appraisal or title work.  Usually those conditions are easy to clear and we can resubmit your loan for final approval.  Usually just a day or two later we have final loan approval and are “clear-to-close”.

Step 6:  Close & Fund Loan
This final stage starts right after we are “clear-t0-close”, at which time we can go ahead and schedule your loan closing with the title company.  We then request the closing documents through our in-house closing team and they get the closing instructions out to the title company within 48 hours.  Generally within a day or so, our closer approves the final Settlement Statement from the title company and we send you a copy by email to review by phone before going to your loan closing.  After signing your closing documents at the title company, you will then have a 3-day right of rescission, which is a 3-day wait (Sundays and holidays do not count), before we can fund your refinance loan on the 4th day.  (If this refinance is for a second home or investment property, you will not have the 3-day wait.)  Once funded, the title company payoffs off your current mortgage (if any) and your refinance loan is now completed.

Get started now with the Refinance Questionnaire or contact us if you still have questions!