Personal Banking > Personal Loans > Home Refinance Loans > Frequently Asked Questions
Home Refinance Loans
FREQUENTLY ASKED QUESTIONS
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General
Application Process
What is the benefit of a home refinance loan?
This product allows you to refinance your home at a fixed rate for a fixed
term without paying any closing or origination fees. If you qualify, you
may refinance your first mortgage only, consolidate all of your mortgages
in to a single loan, or consolidate other debts.
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Must I own a home to get a home refinance loan?
Yes, you must own your home. Residential rental properties are not eligible.
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Must I occupy the residence I’m using as collateral?
Yes. Vacation or second homes are also eligible even though you may occupy
the residence only part of the year. Residential rental properties are not
eligible.
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How much can I borrow?
Your loan amount is determined by taking a percentage (for example 80%)
of your home’s appraised or fair market value. The maximum percentage
approved by the bank is based on your home’s appraised or fair market
value. If you qualify, the minimum loan amount is $5,500 and in most cases
the maximum is $1,000,000.
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Are there any closing costs or origination fees?
No, you will not be charged any loan origination fees, points, or closing
costs.
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Is there a prepayment or early closure fee?
You will be charged a fee of $500.00 if you choose to payoff your loan within three (3) years of the date the loan was originally made. We will not charge you a fee if your loan remains open more than three (3) years or your loan is closed for reasons of default, casualty loss, or refinancing with National Bank of Arizona, increasing the loan amount by $20,000.
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How can I apply for a loan?
You may apply on-line, by phone, or in person.
On-Line: Our secure on-line application is available 24 hours a day, 7 days a week.
By Phone: To apply by phone, call us at 1-800-995-5626.
Monday – Thursday 8:00 a.m. – 7:00 p.m.
Friday 8:00 a.m. – 6:00 p.m.
Saturday 10:00 a.m. – 3:00 p.m.
All times are Mountain Time zone.
In Person: We have over 75 statewide locations in 52 communities. Find the
branch closest to you. Click Here.
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How long does the application process
usually take?
Whether you are applying on-line, over the telephone, or in the branch the application process is very easy and quick. Depending on the type of loan and whether you have a co-applicant, the application process can take between 10 to 15 minutes.
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How quickly can I get approved?
On-Line: Usually, you will have an answer within one business day upon submission of your application, during our stated business hours. This will be subject to verification of your application information and other loan conditions or stipulations.
By Phone: Generally, you will have an answer while you are on the phone, subject to verification of the information you provided and other loan conditions or stipulations.
In Person: Usually, you will have an answer within one business day upon receipt of a completed application during normal business hours, subject to verification of your application information and other loan conditions or stipulations.
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What information do I need to have
available to apply?
Understanding the application process prepares you to make better decisions
and will make the process easier. Click on the loan type below for a
checklist to assist you in the application process. *Some pages in our site are in "PDF" format and require Adobe Acrobat Reader 8.0 or higher to view properly. Click here to download and install Acrobat Reader.
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Are there any fees or costs
to apply?
There are no fees or costs to apply.
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Are there any fees or costs associated
with my loan?
Generally none. We do not charge any loan origination fees, points, or closing
costs.
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How quickly can I close my loan?
The average time for closing a loan varies by loan type. For non-real estate
loans, you can usually close within 3 business days after all required information
is obtained by the bank. For real estate loans, closing times will vary based
on the type of appraisal required, but generally you can expect to close within
20 to 25 business days.
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Where do I go to close my loan?
You may close your loan at the branch of your choice.
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What do you do with my information?
Is it secure?
We put a high priority on safeguarding your information. Please refer to
our Privacy Statement for details.
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