The best thing to do is meet face-to-face with a loan officer. He/she will guide you and let you know exactly what you need and can expect when doing a refinance. it's not much different than what you went through to obtain your initial loan, except this time there is no seller, so no sales contract and so no buyer's & seller's attorneys are needed. Banks will collect your current income documentation and assets, just like when you did your purchase (depending on WHEN you purchased).
The process is pretty much the same. What you NEED to know is what the new rate & terms are. This will allow you to compare the monthly payment you currently have to what the new one will be. You'll need to know the bank's fees and total closing costs so that you can determine just how much the principle loan will increase by. Knowing these things will help you evaluate and decide if refinancing is worth doing. What you want to avoid is banks who will promise low rates and low fees, but deliver the opposite. At the same time, you want to make sure the loan officer you're dealing with is someone who can deliver in a timely manner and will handle your loan responsibly.
If you'd like, I'm always available to talk or meet. Good luck!
Senior Loan Officer
STERLING NATIONAL BANK