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Sample Letter of Explanation for Mortgage Refinance
A Letter of Explanation for Mortgage Refinance is a written document prepared by a borrower who wants to improve their existing mortgage terms or receive a sum of money they can spend or invest (cash-out refinance). If you need to replace your old mortgage with a new one to get a better interest rate, change the mortgage term or the mortgage type, or obtain enough funds to finance the planned home remodeling and renovation, send this statement to the lender to convince them to negotiate and sign an amended mortgage agreement with you.
Download a sample Letter of Explanation for Mortgage Refinance through the link below. Introduce yourself, include the address of the real property, refer to the agreement you have signed with the mortgage provider in the past, confirm your intention to pursue mortgage refinance, explain what has changed in your financial standing to lead you to this decision, clarify your plans for the future - for example, you are not satisfied with the interest rate or you want to fund a home improvement project, and add your contact details to let the lender reach out and discuss the possibility of refinancing.
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