Refinancing 101
WHY DO WE DO IT?
It’s not just about lowering your rate—refinancing can free up cash, unlock your home’s equity, or simplify your finances. Here are some of the smartest reasons homeowners choose to refinance
💸 💸
Lower Payments
Boost your cash flow.
🏦 🛠️
Cash Out Equity
Fund renos, school, or debt payoff.
🔐 📈
Switch Loan
Lock in stable, fixed terms.
🧮 📉
Consolidate Debt
One payment, lower interest.
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Change Ownership
Adjust for divorce/partnership shifts.
⚖️ 📝
Better Loan Terms
Pay off faster and shed penalties.
How do we do it?
It doesn’t have to feel overwhelming. Together, borrower and broker, we’ll tackle each step, from setting goals to closing, with your broker handling the heavy lifting like credit checks and lender shopping.
Here’s your easy 8-step roadmap to keep things smooth and stress-free.
1. Set Your Goal
Lower payments, change loan type/term, cash out, or remove PMI/borrower.
2. Check Your Finances
Review credit score, debt-to-income ratio, and home equity.
3. Gather Documents
Pay stubs, tax forms, bank statements, mortgage/insurance info.
4. Shop Lenders, With Us
Request quotes and weigh rates, terms, closing costs, and APR.
5. Apply & Lock Your Rate
Submit your application with us, provide documents, and lock in a rate.
6. Home Appraisal
Lender may order an appraisal to confirm your home’s value.
7. Underwriting
Lender verifies info and issues final approval.
8. Close & Transition
Review disclosure, sign documents, pay costs, and set up new payments.
Refinancing
Loan Types &
Programs
Cash-Out
Refinance
A cash-out refinance allows you to take cash out of your home equity by replacing your current mortgage with a new loan that is more than the amount owed. This option can help you pay for major expenses like college tuition, debt, or home improvements. It can also be used to consolidate higher-interest debt into one manageable payment, or to reinvest in your home through renovations that may increase its value.
Adjustable-Rate Mortgage (ARM)
Typically adjustable-rate mortgages offer low introductory rates and payments that can change periodically after the initial fixed-rate period. An ARM could be the right choice for you if you plan on staying in your home for just a few years, you’re expecting a future pay increase or the current interest rate on a fixed-rate mortgage is too high.
Fixed-Rate Mortgage
Fixed-rate mortgages protect you against rising rates since the interest rate remains the same for the entire term of the loan. You can select a 30-, 20- or 15-year term, but keep in mind lower term options have higher monthly payments which mean you are building home equity faster. If you plan on staying in your home for a longer time frame, a fixed-rate mortgage could be the right solution for you.