4 Helpful Tips for Refinancing Your Home
Improve your credit score
If possible, improving your credit score is a great way to ensure that your refinancing process is successful. People with high credit scores typically get the lowest mortgage rates and most favorable terms. Ways to improve your credit score include paying your bills on time, paying down debt, and resolving potential errors in your credit report.
Know your mortgage options
If you don’t have a pristine credit score, you still have several beneficial refinancing options. In order to find the best deal for your unique situation, it’s important to be familiar with the many different refinancing possibilities. For example, private money loans and hard money loans are ideal for people who can’t qualify for a traditional bank loan or who need money fast due to time constraints.
Gather necessary paperwork
Similar to when you took out your original mortgage, you’ll be asked to provide a variety of different documents when you’re refinancing your home. Having this documentation ready can help speed up and smooth out your refinancing process. Examples of documents that are typically required when you’re refinancing your home include: two years of personal tax returns, two years of business tax returns, two months of bank statements, and two years of Form W-2 or 1099, in addition to other relevant documentation. If you’re interested in refinancing your home, Streamline Mortgage has a variety of different loan types to choose from. Our expert hard money lenders in Henderson, Reno, and Las Vegas, Nevada, are committed to providing you with reliable loans with the best possible rates, terms, and conditions. For more information, contact us today or visit one of our locations.