Follow This Road Map To Your Mortgage Refinance

Homeowners know that refinancing your mortgage is the best way to lower your payment or put cash back in your pocket.  When mortgage rates are low, you can save money by refinancing to the lower rate and pay less every month or shorten your commitment length.  Interest rates are volatile and can rise or fall depending on the market, and when they are low like they are right now, you don’t want to miss the chance.  If you follow these rules, you’ll be on the road to saving money.  Follow this road map to your mortgage refinance.


These steps will get your refinance quickly and affordably.

  • Know what you want. You need to know how you are planning to save money.  Do you want to take cash out?  Do you want to save money every month on your payment?  Do you want to shorten your mortgage commitment?  Know what you’re trying to do before you start.
  • Credit is due. Pull your credit report and fix any problems including inaccurate information and missed payments that hurt your credit.
  • Know the value. Find out how much your home is worth using comparable values around you and you can get a ballpark on how much you can refinance your home for.
  • Check the rates.  Don’t just go pulling your credit all over town.  Every time someone pulls your credit you can lower your credit score, so make sure that you are close and have as much information as possible before you have your credit pulled.
  • Know the cost.  Make sure that you get a detailed report from your lender on all of the fees that you will be responsible for.  Don’t get blindsided because you didn’t ask.
  • Paper it up. Collect all of your financial paperwork together.  Your Loan Officer can help you with the list, but you are going to need some combination of the following:
  • Paycheck Stubs
  • W-2
  • Bank Documents
  • Investment Documents
  • Tax Documents
  • Profit Statements (Only if self-employed)
  • Proof of income from rental properties
  • Proof that a gift is not a loan
  • 12 months of canceled rent checks and bank statements
  • Divorce decree
  • Proof of age of children in child support is involved
  • Bankruptcy discharge paperwork


  • Lock it down. Lock in that rate when you are comfortable.  It has helped so many people in changing markets save money.
  • Call The Home Loan Expert Team in St. Louis at (314) 781-9700, Chicago at (773) 770-4727, Indianapolis at (317) 550-1515, Nashville at (615) 810-8555 or Birmingham, AL at (205)721-7656.  You can always apply online at hero.loan for your VA Loan, and www.thehomeloanexpert.com for your other mortgage needs, and we’re also open on Saturdays and will come to you to help close your loan. We work hard to make it easy on you.  Nobody gets lower rates on better loans than The Home Loan Expert, Ryan Kelley, why go anywhere else?

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