Looking to refinance
You may consider refinancing your current home loan for many reasons. You may want to lower your interest rate and monthly payment or want to cash out your equity for an upcoming project. Whatever your reason, we can help you determine the option that best fits your situation and saves you money. It's just one of the many reasons why we are Your Bank of First Choice.
Should you refinance?
There are some costs associated with refinancing, but if you will save more than what it costs to redo your loan then you benefit in the long run. It is easy to calculate the benefit of a lower interest rate, but you must also consider one key variable, "How long do you plan to stay in your current home?"
If the answer is 5 years or more, then a refinance can probably save you money.
However, if you think you will move or upgrade to a bigger home in the near future you may want to put your refinance plans on hold.
Getting started is easy. Just complete a home loan application and submit it to us. We will review it and then make sure we find a home loan that saves you money. Have questions? Contact a loan officer to discuss your situation and we can review your refinance options with you one-on-one.
Review your Loan Estimate
Once you have applied to refinance your home loan, you will receive a Loan Estimate. The Loan Estimate contains crucial information regarding your home loan. It gives you a complete picture of the costs that you will incur to refinance your home loan. Learn more about your Loan Estimate.
Processing your home loan
Now, it's our turn. We will begin verifying your income and debt information and preparing documents. At this point, we will also order an appraisal to determine the current value of your home. Processing times for home loans vary and often depend on how quickly the appraisal can be completed, but plan on between 3-4 weeks.
Closing your loan
We will keep you informed on the progress of your home loan and schedule a loan closing as soon as everything is in order. You will receive a Closing Disclosure at least 3 days before closing. The Closing Disclosure is the one-stop shop when it comes to your home loan. You can see what your monthly home loan payment will be, your monthly escrow payment, total loan and closing costs and more. Learn more about the Closing Disclosure.
Most of the time, your only concern after the loan closes is making your monthly payment. But, if you do have questions, you can simply contact us. We service 100% of the loans we make, which means you will never go through a call center to get your questions answered. Our free online banking service makes it easy to monitor your loan balance, plus if you have a deposit account with us, you can set up your monthly payments to be paid automatically. Learn more about the personal banking services we offer.
Why choose Golden Belt Bank?
Quick and straight-forward loan approval
Because we are locally owned and operated, every loan decision is made right here in our community. And with no middle man to report to, approval decisions are made quickly.
Easy delivery options
We use a convenient but secure method to electronically transmit your home loan disclosures to you during the loan process. This way, you can review the documents at your convenience, not just during our business hours. In many cases, you won't have to visit our office until the day of your loan closing.
We can be hands off, but only if that's what you want. We enjoy meeting with each of our customers and are ready with answers to all of your questions. But, if you want a more DIY approach, we have that covered, too. We take the time to know you and our Loan Officers are ready to provide as little or as much help as you may need.
Expert lender and closing agent
In most cases, we are not only the lender but the closing agent for your loan. This provides you a unique advantage. It saves you from paying a closing agent additional closing fees. Plus, as the lender, we already have all the information we need and no further communication with another party is necessary.