Ready to Refinance Your Home?
Home Refinance Loans without the Hassle!
Refinancing could save you a considerable amount of money over the life of your loan and potentially improve your overall financial outlook. We’re here to make the home refinance process easier, with tools and knowledge that will help guide you along the way, starting with a refinance analysis request. We’ll help you clearly see differences between loan programs, allowing you to choose the right one for you.
The Home Refinance Process
Here’s how our home refinance process works:
- Complete our simple home refinance analysis request
- Receive options based on your unique criteria and scenario
- Compare mortgage interest rates and terms
- Choose the offer that best fits your needs
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Rate-and-term refinance
This is the most common type of refinance, intended to change your interest rate, your loan’s repayment term, or both.
- The Goal: To lower your monthly payment, save money on interest over the life of the loan, or pay off your mortgage faster.
- How it works: You replace your current mortgage with a new one for the same outstanding amount but with more favorable terms. The balance typically does not change, although you can roll closing costs into the new loan.
- Who Is It Best for: Homeowners who want to secure a lower interest rate, switch from an adjustable-rate to a fixed-rate mortgage, or adjust their loan term.
Cash-out refinance
This option replaces your existing mortgage with a new, larger loan, allowing you to convert a portion of your home’s equity into cash.
- The Goal: To access a lump sum of money for expenses like home improvements, debt consolidation, or other major purchases.
- How it works: Lenders typically allow you to borrow up to 80% of your home’s appraised value. The new loan pays off your old mortgage, and you receive the difference in cash at closing.
- Who Is It Best for: Homeowners with significant equity who need a large sum of cash and want to do so at a potentially lower interest rate than personal loans or credit cards.
Streamline refinance
Available for existing FHA, VA, and USDA government-backed loans, this option is designed to be a faster, simpler refinancing process.
- The Goal: To reduce your interest rate with less documentation and potentially lower closing costs.
- How it works: Often, a new appraisal or extensive credit verification is not required. You must already have one of these government-backed loans and the refinance must offer a “net tangible benefit,” such as a lower rate or payment.
- Who Is It Best for: Qualified homeowners with existing FHA, VA, or USDA loans who want to reduce their rate and monthly payment with minimal hassle.
Why Refinance?
Refinancing is the process of paying off your existing mortgage with a new mortgage. Typically, you refinance your mortgage to reduce your interest rate and monthly payment or change the length (or term) of your mortgage. You may also refinance to take cash out from your home’s equity.
- Fixed-Rate Mortgage
- Adjustable-Rate Mortgage (ARM)
- Conforming Loans
- Jumbo & Super Jumbo Loans
- FHA, VA & USDA Loans
- Terms from 5 to 30 Years
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