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Refinancing Loan Options

What is mortgage refinancing?

 

There are many reasons people refinance their mortgage, but the most common are to either save money on their monthly mortgage payment or reduce their interest rate. Some people also take advantage of refinancing to shorten the length of their mortgage or to access some of the available equity in their homes to cover other expenses. Regardless of your reasons for refinancing, it’s important to weigh all your options to arrive at a strategy that makes the most sense for your personal financial goals.

 

What are some good reasons to refinance your mortgage?

 

      • Lower your payment
      • Take cash out to pay off high interest debt or improve your home
      • Pay off your loan faster
      • Get a low rate for the life of your loan

Refinancing Loan Options

We provide the flexibility you need to consider refinancing your mortgage. We have loan products for primary residences, second/vacation homes and investment properties. Here are our most popular offerings:

Adjustable-Rate Mortgages (ARMs)
Conventional Fixed-Rate Mortgages
FHA Mortgages
Flex-Term Mortgages
Home Equity Loans
Investment Property Mortgages
Jumbo Mortgages
USDA Mortgages
VA Mortgages
Overview
The lowest rate for the first 5-10 years of the loan for eligible buyers. After the initial term, your rate will adjust according to current market rates and may increase.
The lowest fixed interest rates for eligible buyers.
Option 1: Loans with as low as 3.5% down payment and less stringent credit score requirements.
You choose the term of your mortgage based on what works for you.
A home equity loan is a form of consumer debt that allows you to borrow money against your home’s equity.
Loans for a property used to produce a return on the investment.
A larger loan for borrowers with high credit scores and healthy reserves.
Loan program for individuals or families who plan to occupy a single-family home in a designated rural area as their primary residence.
Government-backed loans offered exclusively to our valued members of the military.
Key Benefits
The lowest short-term rates
The lowest monthly payments for at least the introductory period of the loan
The best fixed rates
Your rate never changes for the life of your loan
Low down payment options
Current FHA borrowers can do a streamline refinance without an appraisal
Option of fixed-rate or adjustable-rate (ARM) loans
Refinance without extending the length of your loan
Set your own payoff date
Get the entire lump sum as soon as your loan is approved
Keep the low rate on your first mortgage
Have cash to make home repairs, consolidate debt & more
Competitive rates
Reduced origination fees
Can be fixed or adjustable-rate loans
Loan amounts up to $2 million
Eliminates the need for secondary financing
No prepayment penalties
No required down payment
Competitive rates on fixed-rate loans
Flexible qualification guidelines
Low or no down payment
No mortgage insurance requirement
Flexible qualification guidelines
Worth Considering if...
Think you’ll be moving before being exposed to the risk of higher rates
Have good credit
Possess the funds for the required down payment
Plan to stay in your home for a longer period of time
Have good credit
Lack a good credit history
Don’t have the funds available for a larger down payment
Want to take advantage of a lower rate but don’t want to extend the length of your loan
Would like your loan to sync up with a specific date, like your retirement
Have good credit
Are consolidating debt or other important costs
Have good credit
Possess substantial cash reserves
Are looking to invest or diversify your investment portfolio
Have good credit
Want to avoid multiple loans
Live in a designated rural area
Don’t have the required funds for a down payment
Are an active military member or veteran
Are the surviving spouse of a deceased service member who lost their life in military service

*By refinancing your existing loan, your total finance charges may be higher over the life of the loan.