Life moves fast. Your needs today are probably different than when you took out your current home loan. Maybe your value has increased and you’d like to pay off other expenses, or maybe interest rates are lower and you’d like to save money. With a quick conversation with one of our Mortgage Loan Officers you can determine whether you’d benefit from refinancing with Solarity. We’ll make the process easy, and we’ll be available to you every step of the way.
Would you benefit from a refinance?
Refinancing your mortgage loan might benefit you if you want to:
- Lower your monthly payments
- Shorten your loan term
- Consolidate debt
- Switch your loan type, such as from an adjustable-rate mortgage (ARM) to a fixed-rate mortgage
- Free up funds to remodel your home or pay for other expenses
The refinancing process
Step 1: Choose your loan
Simply talk to one of our Mortgage Loan Officers or apply online to decide which loan is best for your needs. We’ll provide a range of options based on your income, how much you owe, and any goals you’d like to meet. You will walk out of the door with a pre-qualification for your loan.*
*Legally subject to underwriting the home you are refinancing and verification of the information you’ve provided us on your application.
What to bring:
Here is the information you should bring to the appointment:
- Your current address and any other addresses for the past two years.
- Valid Driver’s license
- Two months of recent bank statements
- Social Security numbers for all borrowers.
- Your employment history for the past two years.
- Most recent 30 days of paystubs and last two years’ tax returns, both personal and business.
- Information about your current debts.
- A copy of your current mortgage statement if held by another lender.
Step 2: Processing your loan
We’ll request documentation to verify your assets and income. In addition, we’ll order an appraisal from a third party, request a title report, and collect a flood certification for your home You will pay a processing deposit for these services, which will be applied toward your closing costs. We’ll also set up an escrow for the loan closing and send you disclosures to read.
Step 3: Underwriting
We’ll prepare a closing disclosure which summarizes the final numbers for the agreement, as well as confirm your financial situation and property align with federal mortgage guidelines. Regulations that protect consumers require a three-day wait before the documents can be signed to allow you time to consider and review the terms of your loan.
Step 4: Closing
We’ll prepare the loan documents and send them to an escrow company. You’ll make an appointment with the escrow company to sign the paperwork at their office. Once we’ve received the signed documents, we’ll transfer the money to the escrow company, which will disburse the funds and record all documents.
What happens next?
Have questions about payments, taxes, insurance, auto payments or anything else? Our Contact Center will be able to help. Get in touch with our Contact Center.
I have had excellent service with Valentin. This is the 3rd time I’ve worked with you guys. I keep returning for the great service and Valentin is a great person to work with.”