Home Refinancing
There are many reasons for a homeowner to consider refinancing their current mortgage. We can help you determine if your refinance goals can be met and what benefits you can take advantage of by switching to a new mortgage.
Seeing how much money you can save in the short- and long-term can determine if refinancing makes sense for you. By getting pre-approved upfront, you will know how much your monthly savings will be, and more importantly, how much total interest you can save over the life of the loan. This “net tangible benefit” calculation depends on many factors, such as your credit score, how much equity you have in your home, your current loan type, time remaining on your existing loan, and your current rate.
Refinancing does come with closing costs and fees. But before you proceed, you will know your approximate break-even point on the expense vs. total benefit of refinancing. Once you have this information, you can confidently choose a loan program that best fits your situation and will help you achieve your goals.
Benefits of Refinancing Your Home
Lower your interest rate and monthly payments
Pull cash out from your home’s equity for debt consolidation or home improvements
Switch from a 30-year to a shorter term loan
Change from adjustable-rate to a fixed-rate mortgage
Eliminate PMI (private mortgage insurance) from a conventional mortgage or refinance from an FHA mortgage to conventional for removal of FHA mortgage insurance.
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Competitive interest rates
Loan amounts up to $647,000 in low cost areas; $947,800 in high cost areas
30yr, 25yr, 20yr, 15yr, or 10yr
Fixed or adjustable rates available
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Up to 80% LTV
Competitive interest rates
Payoff a 2nd mortgage or HELOC
Cash out to pay off high interest debt
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No appraisal required
No income verification
Reduced documentation
Competitive interest rates
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Cash Out up to 90% LTV
Pay off high interest debt
Can roll in all closing costs
Debt to income ratio up to 50%
No monthly mortgage insurance
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Most popular FHA refinance program
No appraisal required
No income verification
Reduced documentation
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Debt consolidation OK
Cash out up to 85% LTV
Debt to income ratio to 50%
Fixed and ARM rates available
Refinance Loan Options
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