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Getting a Refinance Loan

If you select us to obtain your home refinance loan, you'll be amazed at how quickly and simply the loan process moves. Before you know it, you'll have a mortgage that suits your lifestyle and saves you money.

Throughout the loan-application process, we provide you with regular updates. You can also e-mail us with questions or new information. And if you want assistance, a mortgage expert who can answer questions is just a phone call away.

Here's an overview of the refinance loan application process

STEP ONE -- Apply Now! Getting started is easy

The first step is to complete your loan application, which can be done easily through our website. There is no charge to apply!

Normal Equity Requirement is 20% of the home appraisal value.  

Refinance Transactions with less than 20% equity might be considered in CA, FL, IL, MD and VA with PMI required.

Refinances with loans greater than $424,100 or for more than 1 unit may require higher Equity Requirements.

Loan Requests using Adjustable Rate Mortgages or Hybrid Mortgages may require a higher Equity Requirement.

Loans to refinance a condo may also require a higher Equity Requirement.

After you submit your loan application, we will be able to present a customized loan proposal to you.

At the appropriate time we'll order a property appraisal for you.

STEP TWO -- Your Loan is Approved and Funded

You can designate an Escrow/Settlement/Title Company to handle the funding of your loan, along with many other factors which make your refinance transaction go smoothly.

We will coordinate with the escrow team and you'll sign the final papers at their office.

Simple, Straightforward, Cost Effective, and FAST!


 

Northrop Grumman Federal Credit Union
879 WEST 190TH STREET, GARDENA, CA  90248
Toll Free:  (800) 633-2848
1stTrustDeedCallBacks@ngfcu.us
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