Refinance

  • Rate & Term

  • Cash-Out

  • FHA Streamline

  • VA IRRRL

See If You Qualify Today!

A Rate and Term Refinance is when you replace your current mortgage with a new one to change the interest rate, the loan term, or both — without taking cash out.

Think of it as improving your loan, not pulling equity.

Most Common Reasons People Do Rate & Term Refis

1. Lower interest rate
→ Save money monthly and long term

2. Lower monthly payment
→ Improve cash flow

3. Shorten loan term
→ Pay off home faster

4. Switch loan type
Examples:

  • FHA → Conventional (remove PMI)

  • ARM → Fixed rate

NMLS Compliance Note: This is general educational information. Rate and term refinances require full qualification (credit, income, appraisal), no cash back beyond incidental costs. Benefits depend on rates, fees, and break-even analysis. Risks include closing costs, extended term delaying equity, or qualification denial. Consult a licensed mortgage professional for personalized advice based on your financial situation.

A Cash-Out Refinance is when you replace your current mortgage with a new, larger one to access your home's equity as cash — while also refinancing the existing loan balance.

Think of it as tapping into your home equity for funds

Most Common Reasons People Do Cash-Out Refis

  1. Home improvements → Increase property value and equity (e.g., renovations, additions)

  2. Debt consolidation → Pay off high-interest debts (credit cards, auto loans) for lower rates

  3. Major expenses → Fund education, medical bills, weddings, or emergencies

  4. Investment opportunities → Use cash for business startups, other real estate, or retirement

NMLS Compliance Note: This is general educational information. Cash-out refinances involve risks like higher loan balances, potential qualification challenges, and foreclosure risk if payments aren't met. Consult a licensed mortgage professional for personalized advice. Not all borrowers qualify; approval based on credit, income, debt-to-income (DTI), and property value.

An FHA Streamline Refinance is a simplified FHA-to-FHA refinance that lowers your interest rate or payment — no appraisal required, no income verification, and no cash-out allowed (limited closing costs only).

Think of it as a fast-track loan improvement for FHA borrowers, with minimal paperwork.

Most Common Reasons People Do FHA Streamline Refis

Lower interest rate → Save money monthly and long term

Lower monthly payment → Improve cash flow (often primary goal)

Extend loan term → Make payments more affordable (while reducing rate)

Remove mortgage insurance? → No, MI stays (unlike FHA-to-conventional)

A VA IRRRL is a streamlined VA-to-VA refinance to lower your interest rate or payment — no appraisal required, no income verification, and no cash-out allowed

Think of it as a quick VA loan tune-up with minimal hassle

Most Common Reasons People Do VA IRRRLs

1. Lower interest rate → Save money monthly and long term

2. Lower monthly payment → Improve cash flow

3. Extend loan term → Make payments more affordable (while reducing rate)

4. Switch from ARM → Fixed rate (common for stability)

NMLS Compliance Note: This is general educational information. VA IRRRL requires an existing VA loan, funding fee (waivable for some vets), and net tangible benefit (e.g., rate reduction of 0.5%+). Late payments or high residual income issues may disqualify. Risks include longer term or funding fee costs. Consult a licensed mortgage professional for personalized advice. VA lender certification required.