Refinance Your Home Loan
Refinance Your Mortgage
Choose from a wide range of excellent home refinancing programs.
Lower Your Payment · Cash Out Refinance · Enhance Loan Terms.
Refinancing provides homeowners with an opportunity to save thousands of dollars by reducing interest rates. This is especially true if you are looking to consolidate debt such as high interest credit cards. However, even a basic “rate and term” refinance often saves tens of thousands of dollars over the life of the loan. Our home refinancing programs consist of conventional, jumbo, FHA, VA, USDA, reverse, and cash out refinancing. The most common refinance loans that we fund are the following:
- Lower your rate and payment – this is the most typical refinance which is a simple method of paying off your current mortgage with a new loan at a lower rate of interest. You can refinance from any loan into a new loan (assuming you qualify). It is advised, however, that you first consider refinancing into the same type of loan since you may qualify for a streamline program, such as through the FHA or through the VA.
- Streamline refinancing – a streamline refinance is a “lite doc” loan that does NOT require an appraisal. It is essentially processed based on previous documentation from your current loan, and very little underwriting is required prior to funding. The two most common streamline refinances are the FHA streamline and VA streamline also known as the IRRRL program.
- Switch Loan Type – when you refinance, you may want to consider switching to a different type of loan if it will save you money or offer other advantages. The most common type of loan type switch we process is people who refinance their FHA loan into a conventional loan.
- Fix your payment – if you are currently on an adjustable rate mortgage (ARM) you should consider fixing your payment by changing to a fixed rate mortgage. Adjustable rate mortgages are risky since interest rates are unpredictable and your rate and monthly payment can suddenly and significantly adjust higher.
- Pay off mortgage faster – Paying off your mortgage faster can save you an enormous amount of money. The amount of total interest paid on a longer repayment schedule, such as 30 years, is significantly higher than shorter loan terms such as 15 years.
- Cash out refinancing – a cash out refinance allows you to refinance your loan for a higher loan amount that what your current loan balance (payoff) is. The maximum allowable LTV for cash out refinancing for most applicants is 85%. Veterans may qualify for 100% financing through the VA.
Applying for a home refinance loan is easy. All you have to do is give us a call at 1-800-731-3560 or fill out an online prequalification and we will contact you typically within 2 hours during our regular business hours Monday through Friday.