REFINANCING QUESTIONS

Refinancing can be very complex, which is why we want to help simplify the process for you. Read our answers to some commonly asked questions about refinancing a home.

Frequently asked questions

Click on each category to find answers to the frequently asked questions. If your question is not listed here, click on the chat icon at the bottom of the page to get a quick, real-time response. If we are not available live, do not hesitate to contact us by clicking on the Question Box in the bottom right corner of the page. We will respond as soon as possible.

Glossary of terms

Questions about Guidance Residential, Shariah-compliant financing, pre-qualification, the application and closing are answered on our Home Buying FAQ.

Q. What is Guidance Residential?

Founded in 2001 and headquartered in Reston, Virginia, Guidance Residential has provided more than $12 billion in home financing to more than 40,000 families and is licensed or registered to offer home financing in 37 states and Washington, D.C. We are a member of Guidance Financial Group, an affiliated global financial group, which has pioneered the creation and development of Shariah-compliant investment products for institutional investors and financial intermediaries worldwide, as well as financial products and services that address the unmet needs of millions of Muslim consumers.

Q. How can I know if I am eligible to apply?

You can get started by doing our online Pre-Qualification. Starting your home financing takes one online form. No credit check is required, and it only takes 10 minutes. Visit this link to get Pre-Qualified.

Q. What types of refinancing do you offer?

Currently, Guidance Residential provides Shariah-compliant home refinancing for both primary properties (homes which are occupied by the owner) and non-owner occupied properties (also known as investment properties).

Visit this page to see details of the financing options we offer

Q. Who can refinance with Guidance Residential?

Homeowners in the states where we offer home financing, listed on our Operational States page, can refinance existing home financing, including conventional financing, into our Declining Balance Co-ownership Program. Your Account Executive confirms eligibility after you pre-qualify.

Q. When does refinancing make sense?

When it lowers your monthly payment, shortens your payoff term, lets you take cash out of your home's value, or moves you from conventional financing to riba-free co-ownership. Our calculators show the effect on your payment.

Q. How long does it take to close?

On average 30 to 45 days from application, depending on third-party vendors, your credit profile and how quickly you return documents.

Q. How do I apply?

Complete the online pre-qualification, which takes less than 10 minutes and needs no credit check. An Account Executive then helps you apply, usually in a 10-minute call. If we financed your home, contact your Account Executive.

Q. What documents are required to apply for financing?

A photo ID, income documents, recent bank statements, your homeowner's insurance policy and, for any other property you own, its taxes, insurance and HOA dues. We send you the disclosures to sign.