Getting the Refinance Done – Sit Back and Let Us Do the Grunt work!
After David, James, and Jessica, agree on the plan, David jumps into action to make that refinance happen.
David’s team collects all the important documents, and submits the application to the lender that has the lowest rates, but also terms that the clients are happy with.
Once the lender approves the deal, they provide a conditional approval”. The lender then confirms the documentation, and also gets confirmation on the value of the home, normally done by an appraiser. David’s team helps with the appraisal, and makes sure the lender has all they need too.When the final approval comes through, David meets with James and Jessica to sign the documents and answer any of their final questions.
Lastly, James and Jessica meet with their lawyer to finish up the deal. The lawyer takes care of the mortgage registrations, payouts, and finally, gives James and Jessica their huge cheque for the remaining amount.
Right away, James and Jessica pay off their other loans for $35,000, and puts the $185,000 remaining into a safe account to access when they need.
The refinance is done!
James and Jessica are ready to start looking for their rental property!