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When you purchased your home, the goal was simple: get the keys. You could: afford the down payment, afford the monthly payment, and you love the home. Now the goal has changed. A refinance can be beneficial for many reasons. Some of the most common are:

  • Better financing terms are available now compared to what you have (translation: savings)
  • Your home now has the equity required to eliminate mortgage insurance (translation: savings)
  • Your home has equity you wish to access

Fully understanding the goal of any refinance requires an in-depth review so the consequences, risks and rewards are fully assessed BEFORE any action is taken. Our mortgage advisors are sought out by other financial professionals to bring their focused experience to bear in managing the largest debt that most households ever carry.


An excellent mortgage advisor will have collected most of the required items while working to understand “The Goal” above. Now, with the goal in clear sights, work of making the transaction happen begins. It includes steps such as:

  • Review and sign initial application and disclosures
  • Provide further documentation for complete submission and approval
  • Provide access for an appraisal inspection
  • Work closely with your advisor to lock the best rate/fee combination for your goals

The loan submission and approval process is a team effort and the critical point of contact is your mortgage advisor. Think of this person as the quarterback, following a tested series of plays and adapting to challenges to get the ball across the goal line.


The goal line in a refinance is called “closing”. This is when the escrow company receives confirmation that the new loan is in place and can settle up the final accounting of your transaction. This process can be harrowing if not handled correctly. Most important is that there are no surprises. This sounds easy, but takes work on the part of your mortgage advisor. Every homeowner comes to this final step with a different level of understanding and expectation. Here are some of the things to be sure are in place before your closing sequence begins:

  • The final estimate of fees, charges and payoffs has been reviewed by you and your adviser to your satisfaction
  • The loan amount, interest rate and payment are the same as your expectations
  • If funds are due from you, it has been made clear what they are for and how and to whom they should be sent

After closing it is time to enjoy the success of reaching the goal that was set out in step one. From here-on the process repeats any time a new goal arises. You’ve completed another step in following a consistent approach to debt management.