Refinancing: What You Need to Know

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Waxhaw, NC – What is a Refinance? Am I qualified? Is that like taking out another mortgage, even though I just purchased my home? Whether you have just purchased your first home or your owned for many years, refinancing could be a great option.

Refinancing: The Basics

No matter how long you’ve owned a home, you can refinance. A refinance is a great way to save you money, lower your interest rate, change the terms of a loan, or any combo of these. Here’s what to expect:

1) Meet With Your Mortgage Banker To Discuss Your Goals – If you’re ready to refi, it’s best to meet with one of our mortgage bankers to understand what it takes.

2) Conditional Approval – We can discuss what kind of refi best suits you and lock you into a great rate after receiving all of your documentation; paystubs, tax returns, W-2s and/or 1099s, credit report, statement of debts and assets. It is a lot, but we need this information just like we did when you purchased your home.

3) Processing Your Loan – Our Operations department goes into action by verifying your information and documents to make sure they are completed properly. Then our team orders an appraisal and performs a title search for you.

4) Your Loan Is “Clear To Close” – You’re almost there! Your file is marked “Clear to Close” internally and one last check is done to make sure documents are still current and that your rate is locked in.

Let’s talk!

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Tony Garshnick
Tony Garshnick believes in faith, family and a rock-solid financial foundation. He helps individuals and families across the Carolinas realize the American dream of home ownership in a thoughtful and responsible way. Tony is a mortgage planner with his eye on clients' overall financial picture as much as their home loan. He is also passionate about helping those who make their communities and their country better. In his free time, Tony volunteers at his church and enjoys being with his wife and two daughters.