Champion Mortgage^® has the answers to your home refinancing questions.

• Get an idea of your home's current value by seeing what homes are selling for in your area. This will help you estimate the amount of equity currently in your home before a formal appraisal is performed. These listings are often available online and in your local newspaper.
• Review your credit report online and make sure all the entries are accurate. If anything is incorrect, you can request a correction immediately.
• Collect any refinancing information you might need, such as recent mortgage statements and tax documents.

How much will I have to pay at closing?
Refinancing has the same types of closing costs as your original home loan. Every mortgage lender is required to provide you with a good faith estimate of those costs within three business days of your application. Then the lender will advise you of the final amount due within 24 hours of your closing. You may also need to bring a certified or cashier’s check to the closing for any closing costs that are your responsibility. Often, your closing costs are included in the total loan amount so you won’t be expected to pay these fees out of pocket.

Can I save on closing costs by refinancing with my current mortgage lender?
Any time you refinance a mortgage, there are a number of costs associated with the process. Even if you go with your current mortgage lender, you'll need to pay for refinancing expenses incurred by the appraiser, title company and closing agent. You're more likely to come out ahead simply by making sure you get the right loan terms for you.

Your Champion loan refinancing specialist will help you decide the best solution for you.

What documents will I need to close the loan?
This can change, depending on the type of loan and the lender, but before you close, many lenders will want to see copies of the following:

• Positive identification.
• The settlement statement from your existing mortgage.
• Proof of property and hazard insurance.
• Income documentation, such as W2's for the past two years and pay stubs for the past 30 days.
• Other documents that pertain to your specific situation, such as child support or alimony payments, a divorce decree, or pension papers (these documents need not be revealed unless you want to have this income considered in the loan decision).
  

Your Champion loan representative will make sure you understand all the needed paperwork.

At Champion Mortgage, we understand that refinancing your mortgage raises a lot of questions. Our Loan Specialists are trained to listen to your needs and carefully assess your financial situation. Only then will we recommend a customized home refinancing solution that makes sense for you. Ready to get started and refinance your home mortgage? Call 1-800-CHAMPION or click here for a free, no obligation consultation with one of our Loan Specialists.