What is the process for refinancing a home loan with Wizard?

Refinancing a home loan with Wizard Home Loans typically involves several steps designed to help homeowners secure better loan terms or access cash from their equity. Initially, borrowers should evaluate their current mortgage situation to determine if refinancing is advantageous for them. This includes comparing interest rates, assessing loan terms, and considering fees associated with refinancing. Once the decision to refinance is made, the next step is to gather the necessary documentation. This usually includes income verification, proof of assets, and information about the existing mortgage. Borrowers may also want to check their credit score, as it can significantly impact the refinancing process and available options. After preparing the required documents, borrowers can apply for a new mortgage through Wizard Home Loans. During this process, a loan officer will typically guide them through the application, discussing options that align with their financial goals. After the application is submitted, there is a period of underwriting, where the lender evaluates the applicant's financial status and the value of the property. Upon approval, the borrower will review and sign the closing documents. Finally, the new mortgage funds will be used to pay off the existing loan. For specific details on fees or the application process, interested individuals may want to visit the Wizard Home Loans website for more information.