What to Expect When You Refinance

Ready to refi? Here’s what you need to know.

When you refinance your mortgage, your lender works with a title company to coordinate the documents and funding of the transaction, as well as with an appraisal management company (AMC) to perform a home appraisal, when necessary.

As a title provider, an appraisal services provider and an escrow/closing agent, Amrock streamlines the refinance process by offering these key functions – making us a preferred provider to multiple top lenders.

What Types of Title Insurance Will You Need?

If you’re looking to refinance your home, then you’ve probably been through the mortgage closing process before. During that process, your lender likely required title insurance in the form of a lender’s policy. You may have also opted to protect yourself with title insurance in the form of an owner’s policy.

To understand why your lender is requiring a new policy when you refinance, it’s important to understand how the life cycle of each of the two types of policies work.

Owner’s Policy

If you purchased an owner’s policy when you bought your home, you paid a one-time fee at closing. That policy protects you for as long as you or your heirs own the home.

Lender’s Policy

The lender’s policy protects the lender’s investment in your home for the life of that specific loan. When you refinance, the life of your original loan ends and a new one begins, so the lender will likely require you to purchase a new lender’s policy.

As your title provider, we’ll ensure that we can issue the lender’s policy by conducting a new title search and identify any liens, judgements or other matters that are required to be resolved before issuing the new policy.  

If you need a refresher on what title insurance is and how it works, watch the video below.

Settlement & Closing Services

As your closing agent, we operate as a neutral third party between you and your lender. In addition to handling the title documents required by your lender, we assign your signing agent, reach out to all parties involved and work together to schedule a closing that’s convenient for you – anytime, anywhere. Depending on your location and loan type, you may be able to experience the speed and certainty of a digital closing. Amrock is an industry leader in these types of closings and works with a nationwide network of signing agents who are highly trained in this process.   

Once all closing documents are signed, we notify the lender that closing is complete. The lender sends us the funds that are to be disbursed as part of your loan. When we receive them, we pay off any prior mortgage and other liens, then send you any potential proceeds, as described in your Closing Disclosure.

Appraisal

Your lender may require an appraisal of your home, and they'll connect with an appraisal management company to schedule and conduct an appraisal of your property. Amrock is an AMC, so we can help there, too. We work with lenders to get the appraisal completed – it’s one more way we make the refinance process fast and easy!

Why Choose Amrock

With decades of experience, service in every state across the county, easy and reliable communication, extended hours and the freedom to close on your schedule, you can look forward to a great refinance experience.

Need Help?

Our Residential team can guide you through the title and closing process.

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