Refinance Options
Lower your rate, reduce your payment, or tap into your equity
Refinancing your mortgage can help you achieve various financial goals, from reducing your monthly payment to accessing cash for major expenses. Whether you want to take advantage of lower interest rates, switch from an adjustable to fixed-rate mortgage, or tap into your home's equity, we offer multiple refinancing options to meet your needs.
Rate & Term
Lower Rate
Cash-Out
Up to 80% LTV
Streamline
FHA/VA
No Closing Cost
Available
Benefits
- Lower your interest rate and monthly payment
- Switch from adjustable-rate to fixed-rate mortgage
- Shorten your loan term to pay off faster
- Access cash from your home equity
- Consolidate high-interest debt
- Remove private mortgage insurance (PMI)
- Remove a co-borrower from the loan
- Finance home improvements or investments
- Streamlined refinancing for FHA and VA loans
Requirements
- Current on existing mortgage payments
- Sufficient home equity (typically 20% for best rates)
- Good credit score (620+ for conventional, varies by program)
- Stable income and employment
- Debt-to-income ratio within limits
- Home appraisal (may be waived in some cases)
- Title search and insurance
- Proof of homeowners insurance
Frequently Asked Questions
When should I consider refinancing?
Consider refinancing when rates drop 0.5-1% below your current rate, you want to switch loan types, need to access equity, or want to remove PMI. Use our refinance calculator to see if it makes financial sense for your situation.
What is the difference between rate-and-term and cash-out refinancing?
Rate-and-term refinancing replaces your existing loan with better terms without taking cash out. Cash-out refinancing replaces your loan with a larger one, giving you the difference in cash for other uses.
How much does refinancing cost?
Refinancing costs typically range from 2-5% of the loan amount, including appraisal, title, and lender fees. Some lenders offer no-closing-cost options where fees are rolled into the loan or offset by a slightly higher rate.
What is streamline refinancing?
Streamline refinancing is a simplified process for FHA and VA loans with reduced documentation, no appraisal requirement in many cases, and faster processing. It's designed to lower your rate with minimal hassle.
Ready to explore your Refinance Options options?
Our mortgage experts are here to guide you through the process