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REFINANCE LOANS

What Are REFINANCE LOANS?

A refinance loan lets you replace an existing loan with a new one. Here are some of reasons why you might want to get a refinance loan:

  • Get access to a lower interest rate.
  • Reduce your monthly payments.
  • Pull cash out of your home equity.
  • Shorten your mortgage term.
  • Consolidate debt.

Refinancing is best when it ends up reducing the cost of your mortgage in the long term. You’ll want to evaluate your financial situation with a clear goal in mind.

REFINANCE LOAN REQUIREMENTS

  • The minimum credit score to refinance ranges from 580 to 680 depending on your lender and loan program.
  • You will need at least 20% equity if you have a low credit score.
  • Your current mortgage must be in ‘good standing’. You should not have missed any mortgage payments
  • There needs to be at least a six month period between your original financing and new financing.
  • Your debt-to-income ratio should not be more than 50%.
  • You need to have enough cash to close.
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GET STARTED ON YOUR REFINANCE LOAN

Our refinancing programs may help you reduce your monthly payment, consolidate debt and convert equity you have in your home to cash. Give us a call for a free consultation to find out more.

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Take OUT CASH, LOWER YOUR MONTHLY PAYMENT, OR SHORTEN YOUR TERM

REFINANCE NOW