The steps
- Apply and share your goals with your loan consultant
- Lock your rate once you're happy with your loan terms
- Send income, asset and mortgage documents
- Appraisal or another valuation, if your loan needs one
- Underwriting and any follow-up conditions
- Closing and signing
- The three-business-day right to cancel, then funding
A typical timeline
Every file is different. This is a general guide, not a promise.
Most CapCenter refinances close within 30 days of application: about two in three from November 2025 to October 2026. Complex situations can take longer.
Self-employed income, rental properties, several loans on the home or a recent change in your credit can all add time. So can busy seasons, when appraisers and title companies have more files. Your loan consultant can give you a better estimate once your application is in.
- Week 1: application, documents and rate lock
- Week 2: appraisal ordered and completed, if needed
- Weeks 3–4: underwriting and conditions
- Closing, then three business days before funding on a primary home
When you get the money
On a refinance of your primary residence, federal law gives you three business days after closing to cancel. This is called the right of rescission. Your funds go out after that period ends. Sundays and federal holidays can stretch the wait.
Second homes and investment properties generally don't have this waiting period, so funds may be released sooner after closing.
The three days count from the latest of three events: signing your loan documents, receiving the required loan disclosures and receiving the notice of your right to cancel. Sundays and federal holidays don't count. If you plan to use the cash for a specific bill or project, build that wait into your timing.
How the cash is paid
The settlement agent usually sends your cash by wire or check. If you're paying off other debts as part of the refinance, those payoffs may be sent directly to the creditors. Any wiring instructions should be verified by phone with a number you already trust, never one from an email.
What causes delays
- Missing or incomplete documents
- Appraisal scheduling or a value that comes in lower than expected
- Title issues, like an old lien that needs clearing
- Waiting on payoff letters from other lenders
- Changes to your income, job or credit during the process
How to speed it up
- Gather pay stubs, W-2s, bank statements and your mortgage statement before you apply
- Unfreeze your credit at the three bureaus before you apply
- Answer follow-up requests quickly
- Keep your schedule open for the appraisal and closing
- Avoid new credit or big purchases until you close
