How does Refinancing work?

May 15, 2021

When it comes to mortgage refinancing or cash-out refinancing and investment or rental property the process can be relatively simple or it could be overwhelming frustrating and complex. Understanding the quickest way to get approved for mortgage refinance is to find yourself and experienced agent, broker or lender that understands your specific property type as well being able to assess your qualifications in order to determine what’s necessary to achieve your goals.

How long does it take to complete the refinancing process?

When It comes to efficiency, New City Financial is the standard. Since day one, borrowers have been amazed at how simple we have made the process. Through our Nation Wide network of appraisers, title companies, insurance companies and real estate attorneys we are able to coordinate every aspect of the transaction. The keys to success have always been execution and consistency. This allows us to complete the loan process from start to finish within weeks. There is a reason why we are the highest rated institution and that’s because we’ve earned it.

Should I cash-out refinance or just refinance?

Determining the right choice depends on what the borrower is looking to accomplish. Over the years, we have learned that our borrowers who are looking for a Cash-Out Refinance could be doing so for many reasons.

Some of our clients have used the equity in their properties through a cash-out refinance  to buy more real estate, start new businesses, expand their existing businesses, pay off debt, and of course the list goes on. If you are looking to get cash-out refinance to pursue similar goals, this is an excellent option.

However, some borrowers prefer lower their payments by taking advantage of  lower interest rate, better terms, or to payoff a loan that is coming due and you need to refinance before that occurs.

Whatever your situation or desire, New City Financial has a solution and we can help you make the best decision for your needs.

Ways to prepare?

New City Financial has made the process so simple that our  borrowers become so surprised and appreciate the ability to to relax.

Once your inquiry has been made, you can expect a call from one of our refinance experts within the hour. During the call, our representative will assess your refinancing requirements, collect all the information and make a determination as to what other information, if any, is required.

Upon the completion of our the initial phone call, we begin to build the perfect tailored solution for you. Once you have decided which refinance program that you want to move forward with, we take it from there. 

Our goal is to facilitate a quick and easy refinance solution that works for the best interest of our client.

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