Who It Is For
Refinancing makes sense for different reasons. Some owners want a different term, some want to move from an adjustable loan to a fixed one, and some want to take cash out of their equity.
- Owners who qualify for a better loan than they did years ago
- Owners who want to move from an adjustable rate to a fixed rate
- Owners who want to shorten or lengthen their loan term
- Owners who want to drop FHA mortgage insurance by moving to conventional
- Owners who want cash out for a large expense
How It Works
A refinance pays off your current loan and replaces it with a new one. You will have closing costs, so the first question is always whether the change is worth it for you. We will run the numbers honestly, even if the answer is to wait.
We shop different wholesale lenders to get you the lowest possible rate, and we will show you more than one option. You will see the tradeoffs clearly, not just the one that is easiest for us.
Many of our refinance clients first bought with us years ago. We aim to be the people you call whenever it is time to refinance, sell, or buy again.
What You Need to Qualify
- Equity in your home, confirmed by an appraisal when required
- Steady, documented income
- A credit history the lender can review
- A clear reason the new loan improves your situation
- Requirements vary by lender and program, and we will tell you exactly where you stand
Documents You Will Likely Need
- Your most recent mortgage statement
- Pay stubs for the most recent 30 days and year to date
- W-2 forms or tax returns for the past two years
- Bank statements for the last 3 months
- Homeowners insurance declarations page
Common Questions
When does it make sense to refinance?
It depends on how long you plan to stay, the costs of the new loan, and what you want to change. We will compare your current loan with the new one and show you how long it takes to break even.
Can I take cash out when I refinance?
Yes, a cash-out refinance lets you borrow against your equity as part of the new first mortgage. If you want to keep your current first mortgage, a HELOC or standalone second may be a better fit.
Do I have to refinance with my current lender?
No. As a broker we compare several wholesale lenders, and your current lender is only one possible option. You can choose whichever loan fits you best.
General information only, not an offer to lend. Requirements vary by lender and program, and all loans are subject to credit approval, income verification, and property appraisal.