Refinance Loan Process

How To Refinance Your Home

Refinancing a home is important and exciting, but it can also be challenging - especially if you don't know what to expect during the refinance process. At PRM, our knowledgeable Mortgage Bankers will guide you through the refinance process to ensure you are comfortable and informed each step of the way.

Our 8 Step Refinance Process

1. Apply For A Home Loan

We thoroughly review your financial profile which includes your assets, income, credit, and property type. We will discuss financing options and determine a loan that's suitable for your situation.

2. Mortgage Pre-Approval

Once we have received all supporting documentation and your application is complete, we will assess your credit for pre-approval.

3. Property Review For Refinance Loan

Next, escrow will be opened and a title report requested. Additionally, we will order an appraisal and homeowner's insurance binder.

4. Credit Decision

We will send your property documentation, and any other outstanding conditions, to underwriting for a credit decision. We may request additional documentation at this time.

5. Loan Documents

Once the underwriter clears all conditions, we will prepare and deliver your loan documents to the title company.

6. Signing

The escrow officer will then receive your loan documentation/instructions from the lender. This may take up to 48 hours to prepare and an escrow officer will contact you to sign.

7. Funding

The signed documents will be returned to the lender for review. Funds will be released to the title company for disbursement once all terms are met.

8. Recording

When all funds have been received and disbursed, the title company will record your new lien at the county -- and you're done. CONGRATULATIONS!

If you have any questions or are interested in refinancing your home, contact us or fill out the form below!