Home Loans
Refinance Mortgage: Streamline The Application Process and Avoid Delays
(presented by www.refinance-refinance.net - mortgage lenders)
By Louie Latour
Refinancing a home mortgage can be a stressful time for many homeowners. You can make the application easier on yourself by gather your documentation together before applying. Here are tips on how to organize your financial information to avoid delays when refinancing your mortgage.
Mortgage lenders require documentation when approving your mortgage as a way of hedging their bets against risk. They want proof that you have a job, pay your bills, have money in the bank, and can supply documentation supporting your mortgage worthiness. If you have trouble providing this documentation you could face delays in having your loan approved. The problem with delays before closing is that the lender only guarantees your interest rate for a certain period of time. If you are unable to close before the guarantee expires, you can bet the lender will raise your interest rate.
What documentation should you have on hand before applying? You can start by gathering up recent pay stubs from your job; the more the merrier. You may also need your last two Federal income tax returns and two years worth of bank statements. You will need the payoff balance of your current mortgage and the contact information for the lender. If you have a recent survey of the property and appraisal the lender will most likely request these documents. Finally, you will need proof of your homeowner policy and the contact information for the insurance company.
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To get your free mortgage guidebook visit RefiAdvisor.com using the link below. Louie Latour specializes in showing homeowners how to avoid common mortgage mistakes and predatory lenders. For a free copy of “Mortgage Refinancing: What You Need to Know,” which teaches strategies ! Claim your free guidebook today at: http://www.refiadvisor.com |
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