How Do I Refinance.com has compiled a checklist
to help you navigate through the refinance process. This checklist
will also provide you with specific questions to ask lenders to compare
interest rates, fees and terms of home loans, to guarantee you are
getting the best deal.
Current Loan Information
| Lender Name: |
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| Type of Mortgage: i.e. Fixed rate, adjustable rate etc. |
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| Mortgage Amount |
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| Loan term (length of loan) |
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| Interest rate |
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| Annual percentage rate (APR) |
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| Monthly Private Mortgage Insurance (PMI)? |
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| Estimated monthly payment- PITI (Principal, Interest, Taxes, Insurance, PMI) |
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Lender Information
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Lender 1 |
Lender 2 |
| Lender Name |
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| Contact Name (Loan Officer) |
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| Date |
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Loan Information
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1st Mortgage |
2nd Mortgage |
1st Mortgage |
2nd Mortgage |
| Type of Mortgage: i.e. Fixed rate, adjustable rate etc. (See below if adjustable) |
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| Mortgage Amount |
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| Down payment |
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| Length of Loan |
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| Locked-in interest rate |
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| Annual percentage rate (APR) |
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| Estimated monthly impound for taxes and hazard insurance |
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| Monthly Private Mortgage Insurance (PMI) monthly costs |
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| How long must you keep PMI? |
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| Points |
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| Estimated monthly payment total (Principal, Interest, Taxes, Insurance, PMI) |
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Settlement and Closing Fees (estimated)
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1st Mortgage |
2nd Mortgage |
1st Mortgage |
2nd Mortgage |
| Appraisal Fee |
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| Credit Report Fee |
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| Loan Processing Fee /Application Fee |
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| Loan Origination Fee/ Underwriting Fee |
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| Attorney Fees |
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| Document preparation Fees |
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| Broker Fees (points, origination fees, or interest rate add-on) |
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| Lender Fee/Funding fee |
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| Other Fees |
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| Recording Fees |
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| State and local taxes, stamp taxes, transfer taxes |
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| Estimate amounts for interest, taxes, hazard insurance, payments to escrow |
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| Title search/Title Insurance Fees: |
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| Flood Certification Fee |
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| Prepaid Private Mortgage Insurance (PMI) |
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| Surveys and home inspections |
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| Total Settlement and Closing Fees (estimated) |
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Questions and Considerations Regarding the Loan
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1st Mortgage |
2nd Mortgage |
1st Mortgage |
2nd Mortgage |
| Is the interest rate lock in writing? |
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| Is there a fee to lock-in? |
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| When does the lock-in occur - at application, approval or closing? |
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| How long will the lock-in last? |
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| If the mortgage rate drops before closing, can you lock-in at a lower rate? |
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| Are extra principal payments allowed? |
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| Is there a prepayment penalty? |
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| How long is the prepayment period? |
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| What is the difference in interest rate for no prepayment penalty? |
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| Can any fees or costs for the loan be waived? |
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Questions for an Adjustable Rate Mortgage
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1st Mortgage |
2nd Mortgage |
1st Mortgage |
2nd Mortgage |
| Initial Interest Rate |
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| What are the interest rate and payment caps each year and over the life of the loan? |
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| When will the rate adjust? |
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| What index does the lender use? i.e. CD Index, Treasury index etc. |
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| What margin will the lender add to the index? |
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