Applying Online For a Refinance
The online application takes about 20 to 30 minutes to fill out if you have your documents available to fill in some of the questions once the Start Application has been selected. This step-by-step guide is geared towards refinancing although questions are similar for a Purchase except for a few areas. If you have any questions during the process, navigate to the section below for clarity. If you still have further questions, please contact us at (800) 337-3868.
The labels with the requirements have the asterisks and you cannot move forward without filling in those spaces.
- First Name
- Last Name
- Telephone
Type: Select home even though you will most likely be using a cell phone number.
Preferred Contact Method: Select call or email. If call is selected, choose the best time to call you.
Address: This is the physical address where you currently live.
Mailing Address: If “No” is selected, another set of labels will come up asking for the mailing address.
Referred by: If someone referred you, please let us know so we can acknoweledge them. Thank you.
Comments: Please tell us anything about what you are submitting.
Owning your home: This is where it will start to split between refinancing and purchasing. In this guide, we focus on refinancing, not purchase.
Please select the most appropriate answer. We will have another online guide just for purchases with a link.
Please select the most appropriate answer.
Subject Property Address: The property being financed is considered to be the subject property.
Currently Owner Occupied: Answering “No” here will suggest that you are refinancing a rental property.
When was the property acquired?: Answer to the best of your knowledge.
Note: Many times, the dropdown menu for State does not work. We will adjust it when you submit the online application.
Property Type: Single Family Home, Condominium, and Townhome are the most common to be refinanced.
Existing Mortgage: Answer accordingly.
Outstanding Balance: You should be able to get your current balance from your mortgage statement.
Monthly Payment: Current mortgage payment without taxes, insurance, PMI or HOA. If you have an “impound (escrow)” account, you can break it out from the mortgage statement.
Monthly Housing Payment: Total your monthly property taxes, home insurance, PMI, and HOA payments from your mortgage statement if “impound (escrow)” account.
Estimated Home Value: If you recently purcahse your house from 6 months ago, put in your purchase price. If you bought it longer, use Redfin or Zillow to estimate value. We will estimate your value as well.
Loan Term: The most common term is 30 year unless you are reducing the term, then the second most common term is 15 year.
SSN: Do not authorize the system to pull a credit report. We do not use this service. We will DocuSign an authorization form to you and use Advantage Credit Inc. for the credit report pull.
Citizenship: Answer accordingly.
Marital Status: Answer accordingly.
Armed Forces: If “Yes” is answered, a new set of questions will popup asking for the status of active, retired or discharged from duty.
Dependents: If the answer is “Yes”, a question will popup asking how many dependents and their ages.
Current Employment: Fill in the address where you work physically.
Position or Title: Answer accordingly.
Monthly Income: This space does not include bonuses. We will contact you if bonuses are needed to qualify.
Business Owner: If the answer is “Yes”, a popup question will ask for share of ownership.
Ownership Shares: Disclosing ownership of 25% or more requires business tax returns. Please see Mortgage Document Checklist for requirements.
Employment Start Date: Answer accordingly.
Other Income: If the answer is “Yes”, a popup question asks for the type of income and amount. You can add as many additional incomes simply by clicking on the plus sign.
Additional Borrower: All Borrowers require their own application. If the answer is “Yes”, questions will popup asking for second borrower information. There can be more additional borrowers, but we don’t normally see more than 4 borrowers at any one time.
The labels with the requirements have the asterisks and you cannot move forward without filling in those spaces.
- First Name
- Last Name
- Telephone
Type: Select home even though you will most likely be using a cell phone number.
Preferred Contact Method: Select call or email. If call is selected, choose the best time to call you.
For Additional Borrower #2: It should be #2, not #1.
SSN: Do not authorize the system to pull a credit report. We do not use this service. We will DocuSign an authorization form to you and use Advantage Credit Inc. for the credit report pull.
Relationship to the main borrower: Answer accordingly.
Citizenship: Answer accordingly.
Armed Forces: If “Yes” is answered, a new set of questions will popup asking for the status of active, retired or discharged from duty.
For Additional Borrower 2#:
Current Address: If “Same as mine” is selected, the current physical address of Borrower #1 pops up, not to be confused with Additional Borrower #1.
Mailing Address: If “No” is selected, another set of labels will come up asking for the mailing address.
Own or Rent: If owned, a set of question popup for mortgage and housing payments. If rented, question regarding rent payment will popup.
Monthly Payment: Current mortgage payment without taxes, insurance, PMI or HOA. If you have an “impound (escrow)” account, you can break it out from the mortgage statement.
Monthly Housing Payment: Total your monthly property taxes, home insurance, PMI, and HOA payments from your mortgage statement if “impound (escrow)” account.
When was the property acquired?: Answer to the best of your knowledge.
Additional Borrower information #2:
Current Employment: Fill in the address where you work physically.
Position or Title: Answer accordingly.
Monthly Income: This space does not include bonuses. We will contact you if bonuses are needed to qualify.
Business Owner: If the answer is “Yes”, a popup question will ask for share of ownership.
Ownership Shares: Disclosing ownership of 25% or more requires business tax returns. Please see Mortgage Document Checklist for requirements.
Other Income: If the answer is “Yes”, a popup question asks for the type of income and amount. You can add as many additional incomes simply by clicking on the plus sign.
Employment Start Date: Answer accordingly.
Asset Information: Enter bank statements, brokerage statements, certificate of deposits, 401ks, IRAs, Annuities, life insurance cash value for all borrowers. Use the plus sign for additional accounts.
Additional Monthly Expenses: Use the plus sign to add additional monthly expenses, i.e. alimony and child support.
Real Owned Properties: This includes all owner occupied and rental properties as well as the subject property to be refinanced.
Property Address: This is automatically copied over from subject property.
Property Status: Sold, Pending Sale, or Retained. Retained, meaning that the property is being kept after the refinance.
Current Occupancy Status: Is the property in question owner occupied, a second home, or a rental.
Intended Occupancy Status: At some point, will the property in question be owner occupied, a second home, or a rental.
Monthly Income: What is the monthly income if in Current Occupancy Status, investment property was selected.
For additional properties, click on the plus sign.
Declarations:
A. Primary Residence: If “Yes” is selected, a question regarding owning property interest in the 3 years. If you answered “Yes”, two more questions will popup, #1: Type of property, and #2: how did you hold title.
C. Borrowing Money: Are you borrowing money from a third party, and how much.
D1. Applying for another Mortgage: Are you applying for another mortgage besides the mortgage that is being applied for now.
D2. New Credit Debt: Will you be applying for credit cards or car loans not disclosed on the current application. New credit will not land on the credit report since it takes time to be reported.
E. Superior Lien: Superior liens takes precedence over a first mortgage incase of bankruptcy. Clean energy liens are superior liens, where a loan was taken out to upgrade the energy efficiency of the house.
F. Co-signer: Are you a co-signer on any other debt obligations not disclosed on the application?
G. Outstanding Judgements: Are there any that are not disclosed on the application?
H. Federal Debt Default: Have you been delinquent or default on any government loan?
I. Party of a Lawsuit: Answer accordingly.
J. Conveyed Title: Has title been given back to the lender or any third party to circumvent foreclosure within the last 7 years?
K. Short Sale: Have you been through a short sale within the last 7 year?
L. Foreclosure: Have you been foreclosed on within the last 7 years?
M. Bankruptcy: Have you declared bankruptcy within the last 7 years?
Note: Additional Borrowers need to answer their own Declarations.
Demographics:
What is your sex: Answer accordingly. Do not want to provide is a choice.
What is your ethnicity: Answer accordingly. Do not want to provide is a choice
What is your Race: Answer accordingly. Do not want to provide is a choice.
Note: Additional Borrowers need to answer their own Demographics.
We do not use their service for uploading documents. We will send you a password protected link to upload documents.
Accept the terms and submit.
Thank you from the ZenLoanz team.