Note: For setting up a refinance on the primary residence, please see this article: Refinance (Primary Residence)
Below is how to set up a refinance for properties other than the primary residence.
Adding a new Property as Asset
First, navigate to the Properties section of the desired applicant.
Click on ADD PROPERTY.
Click on the Edit/Pencil icon in order to set up the details of the newly added Asset Property.
Add the mortgage that's being refinanced
Go to the Credit and Liabilities from the left side menu.
Click on ADD LIABILITY and select Mortgage from the selection menu.
Click on the Edit/Pencil icon to access the details of the newly created Mortgage.
4. Within the Liabilities - Mortgage page, scroll down and click on ADD COLLATERAL and choose the address for the property to be added as the collateral on the mortgage.
Create a refinance on the transaction page
Navigate to the Transaction page from the application menu.
Click on ADD PURPOSE and select Refinance.
3. You will see a pop up that lists the Liabilities on the application. Select the mortgage to be refinanced by clicking ADD.
Note: You can add multiple liabilities to be refinanced, simply click ADD to all that apply.
Adding the Property as Collateral for the new loan
Click on Loan Request from the navigation column.
Scroll down to the Mortgaged Property section of the loan and click the drop down arrow to open up the section.
Click ADD MORTGAGED PROPERTY.
4. You will see a pop up window that will list all available assets. Select the Current Address property from the list and click on ADD.
