A Hidden Trick For Getting Extra Cash When Refinancing

Find out LoanSnap's best kept secret when applying for a refinance.

untitled design 46

As the new year approaches you may be starting to compile a list of financial goals, including applying for a mortgage or refi. When prepping for an application, you’ve probably heard standard recommendations like rounding up documentation, raising your credit score, etc. but we have a special insider tip just for you - a LoanSnap secret that could help you put a little more money back in your pocket this holiday season.

TIP: If timed properly, you can skip not only one, but in some cases TWO monthly payments when applying for a refi! Here’s how it works:

  • Try timing your refinance to close before the 15th of the next month and then you won’t have to make your current mortgage payment for that current month (you usually have a 15-day grace period).
  • Ask your loan officer if the interest due that month and next is paid via your refinance.

For example, let’s say you start your refinance in November to complete by December 15th. You won’t have to make a December payment or a January one. Your first payment will be due on February 1st.

Ready to make a move to save money? Get this ready before applying:

  • Gather Your Paperwork: You’ll need the standard pieces of information including paystubs, tax returns, ID, bank statements, etc. Luckily, with our app you’re able to easily upload it all straight to your application.
  • Call LoanSnap at 888-680-5134 today and get started! Our experts will help you every step of the way so you can start putting money back in your pockets.