Steps to Successful Refinancing
- Discuss your situation with a First Financial Loan Consultant to see if refinancing will benefit you, and make an appointment for a loan application.
- Our loan processor will order an appraisal and credit report, and necessary verifications to process your loan. After we receive these items, your loan will be submitted to our lender for underwriting and approval.
- Once we receive an approval and any underwriting conditions are met, we will coordinate your closing with an attorney. The funds from your closing will be disbursed after a three-day recission period.
Frequently Asked Questions
Why would I want to refinance my home?
There are many reasons why you may want to think about refinancing.- To lower your interest rate and lower your monthly payment.
- To change your mortgage program (for example, from an adjustable rate to a fixed rate.)
- To increase your mortgage loan amount and receive cash back at closing. This allows you to use the equity you have in your home for home improvements, debt consolidation, education, etc.
How much can I borrow?
Generally, you can borrow up to 90% of the value of your home, if you are not getting cash back at closing. If you are getting cash back at closing, you can finance up to 80% of the value of your home.Can I refinance if I have bad credit problems?
First Financial Services has many programs for buyers with "less than perfect" credit. Our Loan Consultants can review your credit situation and determine which program is right for you.What will it cost me to refinance?
First Financial Services has many programs for buyers with "less than perfect" credit. Our Loan Consultants can review your credit situation and determine if you qualify for one of our programs so give us a call.What are the benefits of using First Financial Services?
- We have access to many different lenders, who each have a wide variety of mortgage programs. We have the ability to "shop" for the best rate amoung our lenders.
- We are reputable, experienced, and friendly professionals who have one goal in mind...to help you find financing for your new home.
- Our Loan Consultants are available for evening and weekend appointments at your home, your office, your Realtor's office or our office.
As always we welcome you to phone us with any questions or comments that you may have and if you're in the area please stop by and say "Hi".
130 Scruggs Road, Suite 203
Moneta, VA 24121
Phone: (540) 721-0010 or Fax: (540) 721-0285
Toll Free: (800) 804-0808
