If you own a home, you know about monthly mortgage payments. A sizeable sum with considerable impact on your month-to-month finances. You’re also likely used to balancing this with your other payments, savings and debts. As one of your largest investments, refinancing your home can provide you with many options and benefits.

Refinancing means that you pay off one loan with the proceeds from a new loan using the same property as security. Some people refinance to take advantage of lower interest rates, while others may do so to get money for a home improvement project. Whatever your goal, you’ll want to make sure the home refinance option you choose fits into your larger financial plan and will truly benefit you in the long run.

Understanding your options is the first step to making an informed decision.

Lower My Monthly Payment, Refinancing to have a little extra cash each month by applying to high-interest debts or save for the long term.

Reduce My Interest Rate , In general, the lower the interest rate the less you will pay on your loan overall.

Shortern My Repayment Period , Is owning your home sooner a worthy tradeoff for higher monthly payments? Does paying off your home loan before other debts make financial sense?

Change My Loan Options , At any given time, a variety of refinancing options may be available for your home – from loans that consolidate debt to those that stabilize your interest rate.

Mortgage Application Documentation Checklist

Last 2 years Tax Returns

Last 2 years W-2’s from current Employers for all borrowers.

Recent Paycheck stubs for all Borrowers –last 30 days

Most recent 2 months statements for all accounts listed on the application

Asset Statement (401K, Brokerage Accounts, Mutual Funds, Stocks, etc)

Loan application

Mortgage Statement or Coupons/rental agreements

Copy of Current Home Owner’s Insurance including agent’s name and phone number

Proof of additional Income, such as Social Security Benefits, Child Support, or Alimony – If applicable

Contact Information for Homeowners Association – If Applicable

Borrower's signed authorization

Government-issued Photo ID and Social Security Card

Apply now for a better mortgage experience through Valley View Home Loans