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Refinancing Your Mortgage: The Basics

Have you recently been considering refinancing your mortgage? Are you wondering what the refinancing process involves or whether it’s worth it? GVC Mortgage of Carmel, IN can help you answer these questions and more! Here we will cover a few of the refinancing basics.

Why should I consider refinancing?

People have many different reasons for refinancing a mortgage. Perhaps interest rates have dropped drastically in the last few years and you want to take advantage, or maybe you’d like to change the terms of your loan to get it paid off faster. The short of it is that if your current mortgage isn’t working out for you (whatever the reason), you should consider whether refinancing is a wise option.

What is the refinancing process?

If you want to get more information about refinancing your mortgage or schedule a consultation, Indiana residents can contact GVC Mortgage. We will help you navigate whether refinancing is a good option, and if so, help you get started.

During your meeting with one of our loan officers, be sure to ask all your questions and read the paperwork carefully before signing any contracts. We want you to be sure you understand your loan options, the terms of the new loan, and what it means for you long-term.

What’s required in order for me to refinance?

To be considered for a new mortgage, you will need to bring some documentation with you to a mortgage loan consultation:

  • 2 most recent paycheck stubs
  • 2 months of bank statements (checking, savings, etc.)
  • 2 years full federal tax returns (including W-2s and 1099s)
  • Copy of your driver’s license
  • Insurance agent contact information

Depending on your situation, you may be required to bring a few additional documents, so be sure to check with your loan consultant before coming to your appointment.

For additional questions about refinancing a mortgage, call GVC Mortgage at (317) 564-4906. GVC Mortgage’s loan officers have more than 40 years of combined experience, and we can help you navigate your refinancing options.

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