A refinance replaces the mortgage you have with a new one. People do it to lower a payment, shorten a term, take cash out of their equity or drop mortgage insurance. The only honest way to know whether it makes sense is to run your numbers.
Borrow against the equity you have built for a renovation, a tuition bill or to consolidate debt.
FHA Streamline
For borrowers who already have an FHA loan, a refinance with reduced documentation and often no new appraisal.
Break-even worked out
We show you how long it takes for the savings to cover the cost, so you can decide with the real number.
Step by step
How it runs, start to close
1
Review your current loan
Balance, rate, term and what you want to change.
2
Run the numbers
What the new loan costs, what it saves and how long until it pays for itself.
3
Apply and appraise
Unless it is a streamline, the lender orders an appraisal to confirm your equity.
4
Close
You have a right to cancel most refinances on a primary home within three business days of closing.
Is it the right fit?
The fifteen-minute call that settles it
Replacing your current mortgage to change the rate or term, take cash out of your equity, or move off an FHA loan, including the FHA Streamline refinance.
Whether it is the right program depends on your credit, your savings and the
property. We run it against the alternatives with your real numbers, and if another
program suits you better, we say so.
When the savings over the time you plan to keep the home are larger than the cost of the new loan. We work out that break-even point with you.
What is an FHA Streamline refinance?
A refinance available to borrowers who already have an FHA loan. It usually needs less documentation and often no new appraisal, as long as it produces a real benefit for the borrower.
Can I take cash out of my home?
Yes, with a cash-out refinance, up to the limit the program allows against your home's value.
Can I get rid of FHA mortgage insurance by refinancing?
Often, by refinancing into a conventional loan once you have enough equity. We can tell you whether you are there yet.
Will refinancing restart my loan term?
It can, but it does not have to. You can choose a shorter term so you do not add years to what you owe.
How long does a refinance take?
It depends on the program and the appraisal. We give you a timeline when you apply and update you as it moves.
Purchase · Refinance · Pre-approval
Know what you can borrow before you fall for a house
Start the secure application online, or call the office and talk it through first. Either way you get a real answer, not a range.
