How to Apply for a Home Refinance Loan and What Happens Next

Don't worry, we'll walk you through this process and keep you informed all the way through closing and funding your loan. Below is a brief description of how that process goes.

Submit your loan application.
(Our online loan applications use SSL encryption and Strong Cryptography to ensure your information is secure until we receive it in our office & decrypt it)
Your loan will be prepared and submitted through our Automated Underwriting System for a conditional approval
Loan papers will then be prepared and delivered or overnighted to you along with a cover letter listing the documentation we need from you.
Review, sign and return the loan papers and supporting documentation to us in the enclosed overnight envelope. If we delivered to you, just call us and we will pick up the papers from you.
Your interest rate cannot be locked until we have your signed papers and all supporting documentation and have completed an acceptable appraisal.

When we receive the loan package back from you we will:

Review and verify the information
Order title work
Order the appraisal
Schedule the closing at the title company
Prepare the loan for underwriting
Once we receive the appraisal the file will go to underwriting for review and, in most cases, the rate can now be locked.
If everything is in order the underwriter approves the loan for closing.
Closing documents are prepared and reviewed by the attorneys before being emailed or overnighted to the title company
You will need to go to the title company to close your loan unless other arrangements have been made in advance
If you are paying closing costs you will need a certified check to pay the title company with. The exact amount will be given to you as soon as the title company has prepared the closing Settlement Statement (HUD1)
The closing usually takes from 30 minutes to an hour
If you are refinancing your primary residence, the loan will not fund for 5 days after closing. This is due to the 3-day Right of Rescission required on Texas homesteads.
Example: If you close on Monday the loan will fund on Friday.
Second homes and investment properties normally fund the day we close.
Once the loan is funded - your done. Enjoy your lower payments.

Note:

Your loan must fund before the interest rate lock expires.
On a 30 day lock for your primary residence, this means we only have 3 weeks to close your loan due to the 3-day Right of Rescission.

Please email or call our office for additional information.