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Refinancing a Home

Refinancing a Home in Oklahoma

Refinancing a home loan can allow you to leverage the equity in your house to provide a low-cost lending option or take advantage of lower rates to potentially reduce your monthly payments. When mortgage rates drop or you need access to cash at a low interest rate, consider the benefits of refinancing your loan.

Why Refinance?

There are many reasons why homeowners may choose to refinance their existing home loan. Consider refinancing to:
• Take advantage of lower interest rates
• Convert your adjustable-rate to a fixed-rate mortgage
• Avoid an upcoming balloon payment
• Capitalize on your improved credit score
• Lengthen your home loan term to lower monthly payments
• Reduce the life of the loan you currently have
• Tap into equity for debt consolidation, home improvements, or education expenses

How to Apply for a Mortgage Refinance Loan

You can get the ball rolling by calling us at 888-332-5132 to learn more about our refinancing options. Our loan specialists can work with you to determine the right kind of home loan for your financial needs and answer any questions you have about the application process.

Preparing to Refinance

Before you begin your application, you’ll need to gather all the documents needed to verify your income, identity, and assets. This includes:
• Financial statements
• Tax returns
• Bank statements
• Proof of income
• Government-issued ID
• Deed to your home
• Documentation of existing mortgage (if applicable) and other loans and debts

Additionally, you may need funds to cover your closing costs (2-5% of the loan amount) if you choose not to roll them into your new loan.

Application Submission and Approval

You can complete your loan application online or in person, by submitting the necessary documentation. Once your application is approved, you’ll receive a loan estimate which offers specific terms for your loan. If you agree to these terms, you’ll sign paperwork and submit it to your lender. After this, you simply need to wait for the loan to close (can take up to several weeks). At closing, you’ll receive and sign your new mortgage paperwork and, if you chose a cash-out refinance, your payout.

Ready to apply?

Apply online, anytime, anywhere:

What Does Equity Mean to You? 

The equity in your home can be a valuable tool to help you achieve your financial goals. Equity can mean different things to different people, depending on their financial situation, lifestyle, and life stage. 

  • To a young professional, equity can mean paying off student loans, funding continuing education, or financing the startup of a business.
  • To a homeowner, equity can mean affording value-improving renovations to your home, while earning a tax deduction on the interest.
  •  To a parent or guardian, equity can mean helping their child attend the school of their choice or have their dream wedding.
  • To a retiree, equity can mean having the funds to cover unexpected expenses on a fixed income.
  • To someone interested in diversifying their portfolio, equity can mean having the resources to make cautious investments to grow their nest egg.

Use our Mortgage Refinance Calculator to see how refinancing your home loan can help you reduce your payment or finance your goals. 

Restrictions may apply depending on the type of property, occupancy restrictions, and program requirements.