Complete Refinance Loan Process

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Stage 1. GET A CUSTOMIZED QUOTE

Run quotes and view up to the minute rates for your customized scenarios on our website. Try changing the scenario attributes such as FICO score, loan amounts, or property value to see how it may affect the cost of the interest rates. Download our quote and compare it against our competitors. We put our best foot forward when it comes to pricing!

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Stage 2. LOAN APPLICATION

When you're ready to get started, you may choose either to complete an application online, print and fill out a loan application, or call us and apply over the phone. At this point, you are not yet locked nor guaranteed a loan. Unlike most lenders, we do not charge or require a deposit to get started on your application. With One True Loan, there is never an application fee nor an appraisal deposit required.

CAUTION: Beware of any lender that wants you to lock immediately and take your appraisal fee upfront without knowing if you qualify for a loan or not.

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Stage 3. REQUIRED DOCUMENTS

At this point, you have completed the loan application, questionnaire, and gathered all the required documents indicated on the Document Checklist. You may send these documents to us by a secure upload link, fax, or mail. If you do not have a secure upload link already, please request one from your advisor. If you prefer to send your documents by mail, please request a prepaid envelope from your advisor. Otherwise, you may fax your documents directly to (888) 450-6791.

Click Here to download the Loan Checklist, Planning Survey, & 1003 Uniform Residential Loan Application.

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Stage 4. QUALIFICATION

Upon being pre-qualified for a loan, initial disclosures will be sent to you to sign and date in order to proceed with your loan. To speed up the process, One True Loan will also place an order for your title preliminary report at no cost to you. You will receive an updated quote lock and appraisal order authorization form in which you may sign to indicate your commitment to lock and move forward with the loan.

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Stage 5. SUBMISSION TO UNDERWRITING

Your interest rate has been locked and your loan will be submitted to the bank for underwriting. All of your documents will be reviewed by the underwriter.

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Stage 6. CONDITIONAL APPROVAL

Upon completion of their review, the underwriter will issue a conditional approval for your loan. Your mortgage advisor and processor will assist you in the process of obtaining a full approval by satisfying underwriting conditions.

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Stage 7. CLEARED TO CLOSE

Loan documents are drawn and reviewed to ensure that all fees and terms are correct. Reservations will be made with a notary for you to sign your loan documents. Refinances have three days right of rescission, a period in which you are able to cancel your loan. The rescission period begins the following day after you sign your loan documents.

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Stage 8. LOAN FUNDING

Signed documents are sent back to the lender for final review. The signed documents will be checked for correct dates as well as consistency in signatures. Once the signed documents are approved and the three day right of rescission ends, the bank will wire the funds to the escrow company. Your loan has officially funded.