Refinance Loan Process

• We offer the option to apply directly online or with a Personal Advisor over the phone (877-878-0100)


• We take the time to listen, answer questions, and make suggestions


• When you’re ready, we will Pre-Qualify you (review credit, discuss income and assets)


• Then, we issue a Pre-Approval and review all of the refinance loan options


• We provide a Good Faith Estimate and a detailed loan breakdown for each of the options


• *Remember that you are always protected with our Close with Confidence Guarantee

• After agreeing to the loan terms, we will send the loan application and disclosures that need to be signed and returned


• Please return the signed paperwork to us with the following pieces of information:
  
  • Proof of Income (paystubs, W-2’s, taxes)
    
  • Proof of Homeowner’s Insurance
    
  • Letters of Explanation, if requested
    
  • Any other documents pertaining to loan approval

• Once we receive the documentation we pre-underwrite the loan application


• Then, we order the appraisal
  
  • The appraisal is paid by the homeowner
    
  • We collect your Credit/Debit card information
    
  • The fee is charged by a third party Appraisal Management Company (AMC)
    
  • *Meridian Home Mortgage will never ask you to pay upfront application fees*

• Once we receive the completed appraisal, we review it and send you a copy


• Then, we lock in the rate

• Our Processing team works hard behind the scenes to ensure that your refinancing loan package is complete and quickly approved. For example, they:
  
  • Obtain all necessary verifications (employment, mortgage, rent, deposit, credit)
    
  • Coordinate the title work
    
  • Submit the loan to the underwriter
    
  • Communicate directly with the underwriter

• After an Underwriter issues a conditional approval, our Pipeline Team works hard to ensure that your refinance loan closes on time. For example, they:
  
  • Communicate directly with the underwriter
    
  • Work to clear any closing conditions
    
  • Constantly update you on the progress of the loan
    
  • Obtain a Clear-to-Close from the Underwriter

• Once your refinance loan is cleared-to-close, our Pipeline Team facilitates the loan closing. For example, they:
  
  • Coordinate a closing time with all parties involved (Borrower, Lender, Title Attorney)
    
  • Ensure that the settlement statement is accurate and in line with our initial approval
    
  • Thoroughly review the settlement statement well before the closing
    
  • Remain available to answer questions up until and long after your refinanced loan closes

*Remember that you are always protected with our Close with Confidence Guarantee*