OUR MORTGAGE
Refinance
PROCESS
WHAT TO EXPECT WHEN REFINANCING YOUR NEW HOME.
APPLICATION
You’ll collaborate with your mortgage professional to complete the application and submit all necessary documentation.
PROCESSING
The Processor orders a title report and appraisal and verifies the information provided in your application, including bank deposits and payment histories. Their goal is to make sure everything is ready for the underwriter for a speedy decision.
APPRAISAL
The appraiser assesses the current market value and overall scope of your home by looking at comparable properties that have sold recently in the area.
Congrats!
Your Equity Funds Disburse in Three (3) Business Days
UNDERWRITING
The Underwriter's role is to determine if the loan package meets the criteria for approval. After loan approval, you might be asked for additional information or documentation before the loan commitment is made.
CONDITIONAL
APPROVAL
Our mortgage underwriter, responsible for assessing your loan eligibility, is likely to approve your application if you satisfy the conditions they have requested.
CLEAR-TO-CLOSE
The information is transferred to the closing and funding department. Broker and closing fees are verified and a signing appointment is made to complete loan process.
Unlock the full potential of your home's equity with Presidential Bank Mortgage. Contact us today to explore refinancing options that align with your financial goals. Your home, your equity, your future - let's make it work for you!
