Refinance Checklist

The checklist

1. 1. Define your goal
   Lower payment, shorter term, cash out, drop PMI, or switch from ARM to fixed? The goal determines the loan type.
2. 2. Run the break-even
   Total refinance cost ÷ monthly savings = months to break even. If you will sell or refinance again before then, it usually does not pay.
3. 3. Check your credit
   Same rules as a purchase: no new accounts, no large purchases, dispute errors early.
4. 4. Gather documents
   Recent pay stubs, W-2s or tax returns, bank statements, current mortgage statement, homeowners insurance, HOA info.
5. 5. Get a Second Look at competing offers
   If another lender quoted you, upload their Loan Estimate and we will tell you within 24 hours if we can beat it.
6. 6. Compare Loan Estimates, not just rates
   Same loan type, same lock period, same day, then compare APR, lender fees, and credits.
7. 7. Lock with intention
   Understand the lock period, lock-and-shop options, and what happens if closing slips past expiration.
8. 8. Do not move money around
   Large undocumented deposits trigger conditions. Keep bank activity boring until funding.
9. 9. Review the Closing Disclosure
   Delivered 3 business days before closing. Every fee should match the final Loan Estimate within tolerance.
10. 10. Know your rescission rights
    Most owner-occupied refinances have a 3-day right to cancel after closing. Cash is not disbursed until it expires.

Download it

Take this checklist with you, Download the checklist (CSV). Open format, no sign-up, yours to keep.

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