Refinancing a mortgage is sometimes not an easy or quick process but there are many things that the consumer can do to help their mortgage broker and ensure a fast refinance process.
What To Do For a Fast Refinance Return Phone Calls: Many times the loan process gets held up by the borrowers unavailability.
When your loan officer calls you try and return the phone call the same day or better yet give them your cell phone number so you can be reached anywhere anytime.
Gather important Documents: Ask your loan officer for a checklist of items needed for the loan.
By giving your lender the needed financial documents all at one time will your loan has a better chance a being a fast refinance.
Availability: When you refinance you will more then likely need a property appraisal.
The appraiser will need to contact you to set up a time for the appraisal.
Most appraisers work during normal business hours and not evening hours so your availability and flexibility will help get this part of the loan done quickly.
Pick One Lender: Nothing can hold up a refinance more then an undecided borrower thats always shopping for a lower rate.
You have to face the facts that rates change daily and by shopping for a lower rate or changing lenders during your refinance you will increase the amount of time and cost of the loan.
If rates change drastically ask your mortgage broker what your options are but do not switch companies midway through a loan for a slightly lower rate.
Although there are many processes and steps beyond your control when you refinance a mortgage you can speed up your loan and get the fast refinance you want by being activeand doing your part.
Not only will this make you happy but it will get you your money or lower interest rate faster as well!