Our Services

What role does Cornerstone have in helping someone refinance their home or mortgage?

As a mortgage broker, we listen to the borrower’s needs and desires before we assess their current financial situation. Once we understand what they would like to achieve, we review their current loan. Then we provide the different options that are currently available to them. Once we share the options with the borrower, we compare the new loan to their current mortgage and weigh the advantages or disadvantages. Our goal is to guide them in their decision-making of a new loan and submit the loan application to the lender. We search for lenders whose underwriting guidelines fit our borrower's situation with the lowest rate available.

Process of refinancing your home or mortgage

  1. Ask yourself why you want to refinance and define your goal
  2. Mortgage broker reviews borrower’s current financial situation
  3. Borrower reviews different options and then decides on product
  4. Cornerstone requests appraisal of the subject property and any additional documentation to finalize loan approval
    • Once the appraisal and all remaining conditions are in, Cornerstone submits the file for final review by the underwriter. If all conditions are satisfactory the lender will provide the clear to close.
  5. Lender sends closing disclosures to borrower for review
  6. Escrow officer draws up closing statement to summarize all charges and credits needed to close the loan for borrower’s review
  7. Funder clears loan for funding and requests wire from warehouse line
  8. Escrow confirms loan has been recorded