3) FHA and VA refinance loans

• Government loans from the Federal Housing Administration and the U.S. Department of Veterans Affairs
  

• Low down payment options with flexible credit and income guidelines

4) Cash-out refinance loan

• If you have available home equity, you could get cash when you close your refinance loan

• Fixed-rate and adjustable-rate options available

Cash-out refinance pays off your existing first mortgage. This results in a new mortgage loan which may have different terms than your original loan (meaning you may have a different type of loan and/or a different interest rate as well as a longer or shorter time period for paying off your loan). It will result in a new payment amortization schedule, which shows the monthly payments you need to make in order to pay off the mortgage principal and interest by the end of the loan term.  

II) How do you receive your Cash-out refinance funds?  

The Cash-out refinance gives you a lump sum when you close your refinance loan. The loan proceeds are first used to pay off your existing mortgage(s), including closing costs and any prepaid items (for example real estate taxes or homeowners insurance); any remaining funds are yours to use as you wish.

III) No Income Verification or Poor Credit?

If your are self-employed, retired or have recent credit issues, a Portfolio Mortgage program may fit your refinance needs.

III) Current Covid-19 Refinance Enviornment 

"Mortgage Credit Tightens, Creating Drag on Any Economic Recovery"  Lenders stiffen conditions on refinancing, even though interest rates are low, spooked by the downturn and regulations, Wall Steet Journal article May 25, 2020

We have a No Contact mortgage process where you can apply online. Electronic signatures (E-Sign) used for your application and disclosures. Elect to go Doc-Less, no need to collect your paystubs, bank statements or tax returns.  You can even close your mortgage refinance from the convenience of home without a closing agent!

Call us today at 800-327-0123 to discuss your loan needs or apply online using our Secured Application. Or complete our mortgage inquiry form.