Loan Programs
Refinance
Replace your current mortgage with one that fits where you are now.
A refinance pays off your current mortgage with a new one. People do it to change the rate, shorten or lengthen the term, move from an adjustable rate to a fixed one, drop mortgage insurance, or take cash out of their equity.
Kam runs the numbers both ways before you commit, including closing costs and how long it takes to break even, so you can see whether a refinance makes sense for you.
Options
Refinance options
Rate and term
Change your interest rate, your loan term or both, without taking cash out.
Cash-out refinance
Replace your mortgage with a larger one and receive the difference in cash.
Streamline refinance
FHA and VA borrowers can often refinance with less paperwork and, in many cases, no new appraisal.
FHA to conventional
Move out of an FHA loan to remove its mortgage insurance once you have enough equity.
Requirements
What lenders look for
Benefits
Why borrowers choose it
Lower your payment
A lower rate or a longer term can reduce what you pay each month.
Pay it off sooner
A shorter term can cut the total interest you pay over the life of the loan.
Use your equity
Cash out for renovations, tuition or paying down higher-interest debt.
Guidelines shown are typical and vary by lender. Loan approval, rates and terms depend on credit, income, property and lender guidelines. Program availability and requirements are subject to change. This is not a commitment to lend.
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