Phone: 941 921 1110

Florida Refinance

Florida Refinance

Florida Mortgage Broker

The steps to refinancing a mortgage are relatively straightforward once you get past all of the legal-jargon and bank talk. You will still need to understand what you are doing, and we are here to assist you in comprehending the mumbo-jumbo before you put pen to paper and sign on the dotted line.

There are essentially four steps involved in obtaining a mortgage loan:

Step One: Fact Finding and Pre-Approval Process.

To do so, you will need to consider the following:

  • How much do you earn?
  • How much do you spend?
  • How good is your credit?
  • How much is your current mortgage loan balance?
  • How much do you estimate your home’s current value?

You will have to authorize us to run your credit score and report.

We will then need to collect your personal financial paperwork, including the last two years tax returns, last two months banks statements, your last pay stubs, and other assets.

Step Two: Complete the Application Process

This is assembling all your paperwork in putting it on Form 1003– a Fannie Mae form–with all your credit report information. From here, we will have all your disclosures ready to sign, including a good faith estimate. Once this is completed, we will run DU. This is a preunderwriting gauge that helps guide us to get any other additional information that the underwriter may be looking for your specific situation.