Home Refinancing Options
Home Refinancing Options
Choose from the best home refinancing options available in the USA.
Our goal is to help you identify the very best refinancing loan program for your mortgage. What is the purpose and goal of your refinance? To lower your monthly payments, take cash out, and/or consolidate debts?
Below we outline all of the various types of refinancing programs, including loan products and amortization schedules that are available. When refinancing, it is important to learn of all your potential options in order to secure the best loan for your needs. Nationwide, rates are at historic lows meaning there has never been a better time to refinance your existing mortgage.
The majority of home mortgages fall into one of three categories: FHA, VA, and conventional mortgages. Depending on your current loan type, your financial situation, the amount of home equity that you have, and your credit ratings, we will inform you of what loan product is best for you.
Government Loan Programs:
The three major government loan programs are FHA, VA, and HARP.
For those who are currently on an FHA loan, you may qualify for an FHA streamline refinance. This is a quick and easy process that does not require an appraisal, and only little documentation needs to be provided in order to process and close the loan. There are also great opportunities for streamline refinancing va loans that similarly does not require an appraisal, and only a little bit of documentation is required. If you do not qualify for an FHA or VA streamline refinance, you can still refinance with either program, you will just be required to provide more documentation and an appraisal.
Homeowners who find themselves “underwater” in their mortgage, meaning that they owe more than their home is worth, may qualify for the government loan program titled HARP. HARP, which stands for the “Home Affordable Refinance Program” was specifically set up to help homeowners who can not find financing elsewhere do to having limited-to-no equity in their homes.
If you are currently in a conventional loan and have some equity in your home, we will advise you if it would be best to switch over to an FHA loan, or to refinance into another conventional loan.
Most home loans are typically amortized on one of the following schedules:
10 year fixed mortgage
15 year fixed mortgage
20 year fixed mortgage
30 year fixed mortgage
3 year arm
5 year arm
7 year arm
Contact us today and we will be glad to answer any questions that you may have about refinancing your home loan, and what your options are.