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Explore Home Refinance Options
There are many options when refinancing your home, which is best for you?
Refinancing your mortgage is personal to your situation. We work with you to find the right professional match to your needs, goals and financial situation. It always helps to know what options are out there. There are two different types of mortgage refinance transaction: A rate and term home refinance mortgage and a cash-out home refinance. Within these two types of refinance mortgages, are several options and guarantors. I admit that I am a mortgage geek and like seeing the types of loan programs available. People are so individual, that programs individualized to meet their needs sounds good to me. We are going to briefly review some of the types of mortgage refinance options here.
Cash Out Home Refinance Options
A Rate and Term Home Refinance Options for your mortgage is designed to offer you a better interest rate or loan term than you have on your current mortgage loan. The benefit of lower interest rates is pretty obvious, but the change in your loan term can mean either a shorter or longer repayment period, or some other change in terms of your mortgage that offers payments that are better for your situation.
- Cash Out - Debt Consolidation
- Cash Out - Home Improvement
- Home Equity Loan
- Home Equity Line of Credit
Rate and Term Home Refinance Options
A Rate and Term Home Refinance Options for your mortgage is designed to offer you a better interest rate or loan term than you have on your current mortgage loan. The benefit of lower interest rates is pretty obvious, but the change in your loan term can mean either a shorter or longer repayment period, or some other change in terms of your mortgage that offers payments that are better for your situation.
- FHA – insures both rate and term mortgage refinance loans and cash out refinance loans.
- VA -guarantees a portion of both rate and term mortgage refinance loans and cash out refinance loans.
- USDA Refinance Program (RD, or Rural Development mortgage loans)- refinance mortgage loans may be rate and term or cash out for home improvements.
Shorten Your Mortgage Term and save Interest
1. Free Consultation
Speak to our friendly loan originators who are licensed and ready to help!
2. Discover Your Options
3. Get Your Refi
