Utah MOrtgage Refinance
Take Advantage of Low Interest Rates with a home loan refinance. We offer bank-beating rates!
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What is a Mortgage refinance?
Refinance, also called refinancing or refi, is the process by which one loan is replaced by another loan, in most cases with more favorable terms. The new loan is used to pay off the original loan.
Refinancing is done to take advantage of lower interest rates, to reduce monthly payments, remove a person off of a loan, consolidate debt, get cash-out of equity and many other reasons.
Generally, if refinancing will save you money, help you build equity, improve your property’s value or allow you to pay off your mortgage faster, it’s a good decision.
Steps to refinancing your mortgage
Fill out my Refinance questionnaire
This 60-second questionnaire will give me the basics about your refinance needs. This step is not an official loan application but simply gives Kalab Stokes a better understanding of your refinance needs.
Send your most recent mortgage statement
Your most recent mortgage statement will allow Kalab Stokes to give you a more accurate new mortgage payment estimate. Your mortgage statement also provides other important information such as escrow payment, escrow balance and principal balance which are all used to provide you with complete transparency about what to expect.
Talk to Kalab Stokes about your refinance goals
With your questionnaire and mortgage statement sent, we will have a short conversation about your goals, what you’d like to achieve and begin a plan of action. This is an excellent time to request multiple loan scenarios, such as comparing payments and interest rates on a 15-year, 20-year, 25-year or 30-year. Feel free to request as little or as much information to help you make an informed, educated decision.
Submit the official loan application
Once you submit your loan application and provide all of the required documentation, it usually takes 2-4 weeks to complete the process with 3 weeks being the average. After submission, we can discuss locking your interest rate in, go over the required documentation and begin the process of underwriting submission for approval.