Why would I need to refinance my mortgage?

Did your new next door neighbor just brag to you about the amazingly low rate she got? Did your cousin just finance his whole remodel using the equity in his house? Did your friend just pay off all of their high interest debt by consolidating it with their home loan for a fraction of the interest rate?

You too can figure out if a refinance is right for you! All we ask is a small investment of your time for a quick initial phone call of 15 minutes and one of our knowledgeable loan originators can let you know what is possible!

Well, kiss your “refi-envy” goodbye!

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Whether it is saving you money monthly or utilizing the equity in your home, a refinance is the perfect vehicle for your financial needs! Learn about the different types of refinancing below:

Do you think you have enough equity in your property to finally get rid of that pesky mortgage insurance? Did rates just take a nosedive and you don’t want to miss out on the savings? Did you recently get a raise at work and you want to lower your term to a 15-year loan to save tens of thousands of dollars in interest??

These would be some of the perfect scenarios for you to refinance your current loan. Whether it is lowering your payment, or your loan term, we can help save you money!

REFI PRO TIP: If you have an FHA loan, mortgage insurance (“MI”) lasts for the life of the loan, or until you refinance into a conventional loan. It may be time to investigate changing that FHA into a conventional loan and saving you some money on MI!

Our homes are one of our biggest assets that we have, and as such, carry a cash value. Well, the more you own of your home, the more “equity”, or Ownership, that you have in that home. Do you own it 100% with no loans? Then you have 100% equity!

Now, maybe you have spent a little too much on credit cards lately, your student loan interest rates just went up, or you were just handed the estimate for your remodel and you had a mini heart attack. Well, if you have a good amount of equity in your home, you can use it to pay for those things! Roll your credit cards or student loans into your mortgage and take that 9-20% interest rates and cut them in half, or with some credit cards, cut them by 75% or more! Your re-model is going to add Value to your home anyway, so why not use the equity to pay for it? Don’t drain your emergency fund, or your investments! Let us show you what is possible today!

REFI PRO TIP: If you are doing a Cash-Out Refinance, and only paying off your student loans, you will get a better interest rate than someone doing a normal cash-out refinance!

Do you have a VA or FHA loan and just want to drop the interest rate quick without all the income and asset verification? Well, then look into an IRRRL! IRRRL stands for “Interest Rate Reduction Refinance Loan”, but that is a mouthful, so we like to stick to just saying IRRRL, pronounced like the name “Earl” for all my non-mortgage folks here. This is a very streamlined refinance product for people with VA or FHA loans and just want to reduce their interest rate. It is an amazing product for the right clients! Call today to see if an IRRRL is right for you!

REFI PRO TIP: The VA funding fee is GREATLY reduced with an IRRRL product. We are talking close to a 75% reduction. So, if you are a Veteran looking to refinance, see if you fit the IRRRL mold and save a ton on that Fee!