![]() Some cleaning and landscaping can go a long way. Your home will also be appraised, so make sure it’s in the best possible shape. Your lender will look into your income, assets, credit history and more, so expect to show documents like pay stubs and bank statements to make your case. Just like with your initial home loan, you’ll need to qualify. ![]() ![]() But there are certain steps to be aware of, as well as a timeline (typically 30 to 45 days). You’ll be happy to know that refinancing doesn’t involve as many moving parts as a home purchase – especially with a lender, like Rocket Mortgage ®, taking care of all the details. If you’ve been thinking about refinancing, here are six things to know before you call a lender: Understanding the ins and outs of the process may help you arrive at an answer. So how do you know if refinancing is the right decision for you? Homeowners have used these loans to lower their interest rates, pay off mortgages more quickly or turn home equity into cash. As a mortgage holder, refinancing can help you accomplish many of your goals by paying off your original loan with a new, more advantageous loan of your choosing.
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