Below are some of the common questions Homebuyers have. Once you
have answers to all your questions, click on the Get Pre-Qualified
button to find out the best mortgage loan for you!
| Is now
the time to refinance? |
Each
homeowner is unique - and we'll help you determine if it's
the right time for you to refinance. Effective refinancing
typically means lowering your current mortgage loan rate by
at least one percent. You might also want to consider
changing the length of your loan or receiving cash from the
equity in your house.
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| Is
refinancing the best choice for my financial goals? |
If
you want to increase cash flow, refinancing to lower your
monthly payment could help. One of our loan specialists will
help you determine what's best for your individual
situation.
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| Can I
reduce my financial payment if I refinance? |
Quite
possibly. One of our loan specialists will
go over all the
different programs with you to see
the best possible loan
and payment for you
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Can I
shorten my loan
term if I refinance?
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Yes,
as long as you qualify. For instance, you
may be able to
reduce your mortgage loan
term from 30 years to 15 years.
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Can I
refinance and
use the cash for an
addition to my home?
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 Absolutely.
Many people borrow against the equity in their homes to make
improvements.
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How much
home
equity can I use?
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A percent of the appraised value of your home can be used
to make home improvements. The exact amount will depend upon your individual situation. The equity you can use is based on
the value of the home and what you currently owe. |
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Can
I still refinance if I
don't use much equity? |
Yes,
up to 90 percent loan-to-value (LTV) if you want to refinance
your house for a new rate and term. A reappraisal of your
property may be required.
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| What will it
cost me to refinance? |
There are typically closing costs associated with refinancing your
loan. However, we also have "No Cost" loans available. We will go over the options with you and help you decide the best one for you.
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