Question : Why Should I Refinance?
Answer : Each applicant�s scenario is different however you should consider refinancing if there is a tangible benefit to the transaction such as Rate Reduction, Reduced Term, Decreased Monthly Payment or Debt Consolidation.
Question : How Much Can I Save?
Answer : Depending on your existing loan amount and interest rate you could have hundreds of dollars a month and possibly thousands of dollars annually in reduced payments.
Question : How Long Is The Process?
Answer : Most refinance and purchase transactions are started and closed in 30 days. Rite Lend will make every effort to your loan quickly. For you part each applicant must deliver all requested documents in quickly.
Question : When Can I Lock My Loan?
Answer : Rite Lend rate lock policy allows any applicant to lock their loans once their loan has been approved by underwriting. It is important to submit all requested documents to processing quickly and not hold up you appraisal inspection. The sooner your file is complete the sooner it can be reviewed, approved by an underwriter and locked.
Question : How Does My Loan Close?
Answer : After your loan has been approved by an underwriter and locked at an agreed final rate loan docs will be drawn and sent to your place of choice for signing with a licensed notary. Once signed loan documents are delivered back to us funding of your loan takes place within 3-6 days. Once funded escrow is closed and Final Closing Statement as well as cash proceeds are sent to you within 2-3 days.