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Refinancing
Your Home
Get More Out of Your Home With Our Credit Union Mortgages
Refinancing your home helps you love it even more. So if you’re trying to get a lower interest rate or lower monthly payments, Grow can help make that happen. Refinancing through Grow can help make it happen. We’ll work closely with you to find the solution that fits your needs, with a new rate and terms that work for you and your budget. Grow offers some of Florida’s best credit union refinance rates, helping you get the most out of your home.
Reasons to Refinance
Why refinance? It may make sense if you can lower your interest rate or if the value of your home has increased. Refinancing can be a helpful tool for home improvement, debt consolidation or simply lowering your monthly payment.
Lower interest rate
Whether you got your loan two months ago or two years ago, better interest rates may be available today!
Lower monthly payment
If you’re able to get a lower rate but keep the same term on your loan, your monthly home payment could go down significantly.
Fewer monthly payments
When you refinance your home, you can also choose a new term for your loan based on your priorities.
Access to equity
A cash-out refinance on a mortgage allows you to access the equity you have built up in your home.
The Refinancing Process
Select the type of loan you want
Answer some questions online in the Mortgage Center, then decide on the best loan for you. We provide a variety of loan options based on your monthly income, how much you owe, how much you have to put down and more.
Apply for the loan
We’ve pared our loan application down to require only the most essential information. This includes basic information about you and about the property you want to finance, the assets to you plan to use for the down payment and closing costs, your income and any liabilities.
Credit approval
In many cases, we can immediately credit-approve your loan request. It approves a specific loan amount and loan program based on your income and debts. It is, however, legally subject to underwriting the home you are financing and verification of the information you’ve provided us on your application.
Processing your loan
We’ll first verify the provided information from your loan application, then request documentation to verify assets and income. We’ll review your home by ordering an appraisal, title report, and flood certification. A prepaid processing deposit is required for these services will be applied toward your closing costs. We also set up escrow for the loan closing and send out applicable disclosures.
Final loan approval
Final loan approval involves underwriting your new home or existing home, if you are refinancing and the information on your loan application. Once we’ve reviewed this information, we will give you a final approval, and then ready your loan for closing.
Closing
With final loan approval, we prepare the loan documents for you to sign and send them to an escrow company for signing. Once we receive the signed documents, we’ll transfer the money to the escrow company and they will disburse the loan and record the documents.
Answer some questions online in the Mortgage Center, then decide on the best loan for you. We provide a variety of loan options based on your monthly income, how much you owe, how much you have to put down and more.
We’ve pared our loan application down to require only the most essential information. This includes basic information about you and about the property you want to finance, the assets to you plan to use for the down payment and closing costs, your income and any liabilities.
In many cases, we can immediately credit-approve your loan request. It approves a specific loan amount and loan program based on your income and debts. It is, however, legally subject to underwriting the home you are financing and verification of the information you’ve provided us on your application.
We’ll first verify the provided information from your loan application, then request documentation to verify assets and income. We’ll review your home by ordering an appraisal, title report, and flood certification. A prepaid processing deposit is required for these services will be applied toward your closing costs. We also set up escrow for the loan closing and send out applicable disclosures.
Final loan approval involves underwriting your new home or existing home, if you are refinancing and the information on your loan application. Once we’ve reviewed this information, we will give you a final approval, and then ready your loan for closing.
With final loan approval, we prepare the loan documents for you to sign and send them to an escrow company for signing. Once we receive the signed documents, we’ll transfer the money to the escrow company and they will disburse the loan and record the documents.
Apply For A Home Loan
To apply for your easy online loan, all you have to do is answer a few simple questions about yourself, your property and your income, debts and assets.
Better Finances Start At Home
Real Estate Loan Officers
Not sure which loan is right for you? Our Loan Consultant walks you through all the important steps of determining which mortgage best fits your needs.
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Important Information About Procedures for Opening a New Account
To help the government fight the funding of terrorism and money laundering activities, federal law requires all financial institutions to obtain, verify, and record information that identifies each person who opens an account. What this means for you: when you open an account we will ask for your name, address, date of birth, and other information that will allow us to identify you. We may also ask to see your driver’s license or other identifying documents.
Subject to credit approval.
Grow Financial mortgage loans are valid for the purchase or refinance of owner-occupied residential properties in the states of Florida, South Carolina, North Carolina, Georgia, Alabama and Tennessee, including single-family detached, condominiums and townhomes. Not valid for the purchase of investment properties. Grow Financial mortgage loan rates are updated daily and available at growfinancial.org.
