Homeowners are able to refinance their current home loan for various reasons whether it is to reduce monthly payment, reduce their interest rate, take cash out of their home equity, etc.
Refinance Your Mortgage Loan
When you refinance you are paying off an existing loan with proceeds from a new loan. Generally, when you refinance you are taking advantage of improvements in your credit, built up equity, change to term, or drops in market interest rates. Benefits of refinancing can include lowering your current payment, changing the term of your loan, or borrowing against the equity in your home to get cash out.
Regular Refinance Options
- Conventional Refinance
- FHA Refinance
- VA Refinance
- USDA Refinance
Streamline Refinance Options
No-appraisal streamline refinances are used solely for the purpose of lowering the monthly mortgage payment. In other words, you don’t have the option of cashing out equity under the no-appraisal program.
- FHA Streamline Refinance – For more information on FHA Streamline Refinancing click here.
- VA Streamline Refinance (appraisal may be required in some circumstances)
Cash Out Refinance Options
Access the equity in your home and get cash that you can use to meet all kinds of financial goals. The existing mortgage and any liens on the property are paid off and replaced with a refinanced mortgage.
- Conventional Cash-Out Refinance
- FHA Cash-Out Refinance
- VA Cash-Out Refinance