Lowest Home Refinance Rate

Current interest rates are hovering very near their historical low points, and many people are taking advantage of this opportunity to refinance their current mortgages. We are happy to offer you among the lowest home refinance rate available anywhere. We are a fully-approved government lender and have more than a decade of experience refinancing jumbo, conventional, FHA, and many other forms of mortgage loans.

Refinancing a mortgage is when a homeowner replaces their existing mortgage with another mortgage. There are a multitude of reasons to refinance a mortgage. One reason is that a homeowner may be eligible for a lower rate than when they originally financed their home. Changing mortgages will save money. Another reason would be to tap into equity accrued in the house in order to withdraw cash. Still another reason is to change the term on the existing mortgage in an effort to lower monthly payments or pay off the loan sooner. Lastly, a homeowner might want to refinance to consolidate other debts or pay for repairs or renovations to the home.

Some of the common forms of refinance loans are:

  1. Fixed Rate Refinance

    If you originally financed your home with an adjustable rate mortgage (ARM), you may learn that refinancing into a fixed-rate mortgage if mortgage rates have dropped since your original financing. A fixed-rate refinancing allows you to lock in current mortgage rates and reduce the amount of interest paid over the life of the loan, and potentially make lower monthly payments. It is important to realize there are closing and transaction fees when you refinance debt you should weigh these costs against the potential savings realized by refinancing. As such, it is very important to consult a real estate professional when refinancing your a mortgage.

    Another option is to change the length of your present fixed rate mortgage. If you originally financed with a 30-year fixed rate mortgage, refinancing into a 15-year fixed rate mortgage may increase your monthly payments but you could realize significant savings in the total amount of interest you will pay over the course of the loan. You can extinguish your debt more quickly and save thousands of dollars.

    Refinancing to fixed-rate mortgages is generally good for homeowners who intend on staying in their homes for the long-term.

  2. Adjustable Rate Refinance

    ARMs are good for many homeowners because they usually have a lower initial interest rate than most fixed-rate mortgages. The homeowner needs to be aware that the interest rate for adjustable rate mortgages will vary over time as market conditions dictate. Refinancing into an adjustable rate mortgage can be a good idea for homeowners who wish to reduce monthly payments on a fixed-rate mortgage.

    There is some intrinsic risk with adjustable rate mortgages. Interest rates for ARMs are variable and the interest payments will change accordingly. ARMs tend to be most appropriate for those who are planning on staying in a home for the short-term.

  3. Cash-Out Refinance

    A cash-out refinancing is when the homeowner takes out a new, larger mortgage in order to take out extra money to pay or consolidate other debts or pay for home repairs or renovations.

    Cash-out refinances are usually limited to a loan to value ratio of 80 percent. Many lenders offer a higher loan to value ratio in return for larger fees up-front. Again, there is risk with cash-out refinancing. There can be large tax liabilities associated with cash-out refinancing.

  4. No Closing Cost Refinance

    In a no-closing cost refinancing the borrower pays almost nothing in fees up front compared to the other options. This type of refinancing can be useful if the current mortgage rate is below your existing rate by 1.5% or more. Most lenders will shift the upfront cost to a yield spread premium that is added on to the back end of your new mortgage. Make sure your lender provides you with full disclosure on both upfront and hidden costs!

  5. FHA Streamline Refinance

    FHA Streamline Refinancing is a fast, easy means of refinancing for borrowers who currently have FHA mortgages. It typically does not require a new credit check or updated appraisal and is one of the fastest ways to refinance into a new low mortgage rate.

For over a decade we have been developing lending solutions customized to each of our customer's individual circumstances. We want to help you get financing for a home, but only with the right mortgage. We will only put you into a mortgage you can afford: today, tomorrow, next month, and next year, at the lowest possible rate we can provide. Speak to one of our loan officers at 877-868-2503 to see how we can help you refinance your home today.