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Refinance Flow Chart

   
Complete a loan application:

The best way for HomeFirst Mortgage is our  online loan application which is located on a secure website.  Click here to apply online.

    
Provide supporting documents:

  You do not have to provide supporting documents the same time you submit your loan application.

And remember, give us what we ask for, exactly in the form we have requested. By doing so, we can guarantee a much smoother, more predictable outcome.


 

You will need to provide the following
items when you send in your application:

 

 
Streamline REFINANCE:
  • Most recent years W-2 forms
  • Most recent Pay Stubs showing year to date earnings and covering 30 days of pay
  • Most recent month Bank Statements, IRAs, Mutual Funds, Stocks & Bonds, etc. (All pages)
  • Lease Agreements for rental property (if applicable)
  • Name, title and telephone number of the person that can verify your employment
  • Name and telephone number of your Insurance Agent
  • Name, telephone number and contact person at Condominium or Home Owners Association. Name, and telephone number of your closing agent.
  • Payment to HomeFirst Mortgage Corp. for cost of Credit Report and/or Appraisal (payment could be collected prior to or at settlement).

 

Self-employed borrower

Most recent two years personal tax returns
The following is based on a case-by-case borrower:

Most recent two years business tax returns
Year to date Profit and Loss Statement for January to the end of month. (May need to be completed by a CPA)

REFINANCE:

  • Last two years W-2 form
  • One-month history of Pay Stubs showing year to date earnings
  • Copies of last 3 months of Bank Statements, IRAs, Mutual Funds, Stocks & Bonds, etc. (All pages)
  • Complete Divorce Decree, Separation Agreement, Property Settlement Agreement (if applicable)
    Lease Agreements for rental property (if applicable)
  • Name, title and telephone number of the person that can verify your employment
  • Name and telephone number of your Insurance Agent
  • Name, telephone number and contact person at Condominium or Home Owners Association
  • Signed letter indicating the purpose of the surplus Cash Out, if applicable
  • Payment to HomeFirst Mortgage Corp. for cost of Credit Report and/or Appraisal (payment could be collected prior to or at settlement).

 

Self-employed borrower

Most recent two years personal tax returns
The following is based on a case-by-case borrower:

Most recent two years business tax returns
Year to date Profit and Loss Statement for January to the end of month. (May need to be completed by a CPA)


   

Schedule Closing:
Your Real Estate agent might assist you with setting up your closing. If you do not have a Real Estate agent, you will need to set up your own closing. Please contact your loan officer with any question and to determine the closing date that works for all parties involved. We will work with your settlement company to make certain the papers arrive in plenty of time for your settlement. Do not put this off, first come, first served. Feel free to ask your loan officer for recommendation.

The Settlement Company or closing agent will be the person to ask about funds to close. Your loan officer can give you a pretty close number, but the Settlement Company or closing agent will have the final numbers. If you are required to bring funds to the closing table, you should check with the Settlement Company or closing agent about the type of fund they accept and who the funds should be made out to.

 
Homeowners Insurance:
Make sure you arrange for your homeowner’s insurance policy well in advance of closing. Have your insurance agent call us early in the process so that we can give him/her the information they will need to process your insurance application.

You will be required to pay the first year’s premium up front. We call this “paid outside of closing” (POC).

If your transaction involves a condominium, you may only need to provide the name and telephone number of the property management company. The lender does not require homeowners insurance on most condominiums.

 
Termite Inspection:
A termite inspection is not always required. You have the right to have the subject property inspected by a certified termite company. Check with your Loan Officer first. A satisfactory termite report, if required, will need to be provided within 30 days of closing.

 
Well and Septic:
If the subject property is located on Well and Septic, you may be required to provide a Well and Septic certification showing a clean bill of health. Check with your Loan Officer to determine if one is required. This certification is normally ordered by the settlement company or closing agent. A satisfactory Well and Septic report, if required, will need to be provided within 30 days of closing.

 
Appraisal:
Your Loan Officer will order the appraisal on your behalf.  The normal cost of an appraisal is approximately $425.00. You should have paid this fee at the loan application. The appraisal company will contact you directly to schedule a time to view the property. It is very important to have the appraisal completed ASAP. The entire loan process will be on hold until the appraisal is completed and delivered to the Loan Officer. Some loans do not require the appraiser to enter the property.

   
Conditional Approval:
  This means your loan is approved but additional information is needed. The additional information provided by you will be a factor leading to the loan approval. Due to the nature of your loan situation, you may be asked to provide additional documentation by your loan officer. Your attention to this matter will help us to close your loan in a timely fashion. Keep a positive attitude and remember we are on your team.

   
Ask Questions:
  Remember, there are no stupid questions. It is our job to make sure you are well informed about the loan program you will receive and the process you have to go through to get to settlement. Your loan officer will always return your call and otherwise be available to answer any questions you have about pricing, programs and the process itself.

 
And Finally:
If you are unhappy for any reason, the President of HomeFirst Mortgage will want to hear from you; Greg Kundinger, as President, is committed to making certain that your experience with HomeFirst Mortgage is as pleasant and efficient as the application process can be. You can contact Greg at (800) 232-1219 or via email at greg@homefirstmortgage.com.