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Process of getting mortgage loan refinancing

This article will let you know what the process is for getting refinancing from The Mortgage Store Online. The refinancing process has the following steps:

• Step #1: Apply for refinancing
• Step #2: Find out your refinancing lender options
• Step #3: Submit your documentation
• Step #4: Underwriting
• Step #5: Closing of your refinancing mortgage loan

Step #1: Apply for refinancing

The first step of the refinancing mortgage-loan process is for you to actually send a refinance application to the brokers at The Mortgage Store Online.

You can apply for refinancing by clicking here. Or you can call 1-866-880-2577 to talk to one of The Mortgage Store Online's brokers directly - they'll fill out the application for you (it's so much easier for you that way - saves you some typing).

Step #2: Find out your refinancing lender options

The second step of the refinancing mortgage-loan process with The Mortgage Store Online - is you finding out your 'lender options.'

Once one of The Mortgage Store Online's brokers have received your refinancing mortgage-application (whether through the online application, or over the phone) they can then look over your application and determine how many lenders you 'qualify with.'

They will then let you know your 'options' - meaning they will tell you about the offers the lender's are making for your mortgage refinancing. (BTW: The Mortgage Store Online has access to hundreds of lenders!).

For example, say you qualified for "Mortgage Lender #1" AND "Mortgage Lender #2." The broker who's talking to you about your refinancing, will let you know what your mortgage-loan payments would be if you got your refinancing from lender #1, and what your mortgage-loan payments would be if you got your refinancing from lender #2. And the broker will let you know what your mortgage rate would be with both lender's. Plus, the broker will let you know exactly which type of refinancing mortgage-loan you can get from lender #1 and from lender #2 (i.e. an "adjustable rate 1 year loan" or a "fixed rate 5 year loan" etc.).

So really - The Mortgage Store Online's brokers will let you know all of your lender-options (yes, you might have 26 of them!), and help you choose the lender you want to use - the lender that you feel suits your preferences.

Apply for a refinance mortgage today!

Step #3: Submit your documentation

The third step of the refinancing mortgage-loan process is you submitting your documentation to The Mortgage Store Online's brokers.

The mortgage broker you talk to about your refinancing application and lender options, will let you know over the phone, exactly which documentation you'll have to fax/email them for your refinancing mortgage-loan.

What's this refinancing documentation like? If you're employed you'll have to send in a letter of employment for example. Or, if you're self-employed, you'll have to send in proof of your self-employments.

And you'll also have to send in proof of the 'equity' you have in the home property you're refinancing.

Get a refinance mortgage loan: you can apply online!

Step #4: Underwriting of your refinancing mortgage-loan

After you've sent in your mortgage-documentation to The Mortgage Store Online's broker that was working with you - you're pretty much done your refinancing process.

Your broker will send your documentation directly to the lender you both chose together. Then that lender will do 'underwriting' which in English means they'll 'make sure the info on your documentation matches the info on your refinancing application.' They're just 'double-checking.'

With other mortgage brokerages, you'd often have to wait for your broker to double-check your documentation info, and then also wait for your lender to double-check the info. But with The Mortgage Store Online, that part of the refinancing process is streamlined. The lender does the info-checking, not your broker.

Apply online and get your refinance loan now!

Step #5: Closing of your refinancing mortgage-loan

After your mortgage lender checks the info on your documentation, as long as the info matches your refinancing application info - you're good to go!

The lender will send a person right to your door - yup, no matter what city or state you live in - so you can sign the mortgage documents that are required for your refinancing to close.

And that's it! Pretty simple process, huh? And it doesn't require you leaving your house for a moment.

Start the refinancing process today! Fill out the home mortgage application.

Want to find out more info about refinancing-articles like me? Then contact The Mortgage Store Online's brokers by using the refinance contact form or by calling them at 1-866-880-2577.

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