Refinance Mortgage Options with flexibilities intended to reduce your monthly housing cost
Refinancing your mortgage basically means that you are trading in your old mortgage for a new one, and possibly a new balance
Congratulations! You're ready for Refinance Mortgage
When you refinance your mortgage, your bank or lender pays off your old mortgage with the new one; this is the reason for the term refinancing.
Most borrowers choose to refinance so they can lower their interest and shorten their payment term, or to take advantage of turning some of the equity they have earned on their home into cash.
There are two main types of refinancing: rate and term refinance and cash-out refinance.
Refinance Mortgage Process
Here’s how our Refinance Mortgage process works:
Complete our simple mortgage pre-approval letter request
Receive options based on your unique criteria and scenario
Compare mortgage interest rates and terms
Choose the offer that best fits your needs
Do I Qualify?
To qualify for a mortgage, lenders typically require that you have a debt-to-income ratio of “28/36.” This means that no more than 28% of your total monthly income (from all sources, before taxes) can go toward housing, and no more than 36% of your monthly income can go toward your total monthly debt(includingyour mortgage payment).