Create a query that joins information from the "submit event" table with the "loan" table. The goal is to find out the total loan balance for each user at the time of their most recent refinance submission. Your query should include all users and their respective loan balances.

Tables Schema as Below:

submissions

columnName dataType

id INT

balance DECIMAL$(10,2)$

interest$\_$rate DECIMAL$(5,2)$

rate$\_$type VARCHAR$(10)$

loan$\_$id INT

loans

columnName dataType

id INT

user$\_$id INT

created$\_$at DATETIME

status VARCHAR$(50)$

type VARCHAR$(50)$