A home refinance loan allows you to replace your existing mortgage with a new loan, often at a lower interest rate, shorter term, or with different loan features. Refinancing can help you:
Reduce monthly payments
Pay off your mortgage faster
Access cash for home improvements or debt consolidation
Refinancing is a powerful financial tool for homeowners looking to save money or unlock home equity.
Property Type:
Having trouble qualifying for a mortgage? Check out our Non-QM loans!
Most lenders evaluate:
Credit Score – 500+Loan-to-Value (LTV) – 80% for Cash Out/97.75 for Rate & Term
Employment/Income – Steady income preferred/Alternative income options available
Property Type – Primary residence, second home, or investment property
Debt-to-Income (DTI) – up to 56%
Evaluate Your Goals: Lower rate, shorten term, or access cash
Get Pre-Qualified: Check rates and loan options
Submit Application: Provide financial documents and property details
Underwriting & Appraisal: Lender verifies credit, income, and property value
Closing: Sign documents, pay fees, and start your new loan
Compare multiple lenders for best rates and terms
Know your credit score and correct errors before applying
Decide between fixed-rate vs. adjustable-rate refinance
Consider the break-even point for closing costs vs. monthly savings
Work with a knowledgeable mortgage broker for guidance
Q: Can I refinance with bad credit?
A: Yes, the minimum credit score required is 500. FHA and VA loans go down to 500 credit scores.
Q: How long does refinancing take?
A: Typically 30–45 days, depending on appraisal and documentation.
Q: Is refinancing worth it?
A: If you can lower your interest rate, reduce monthly payments, or access equity, refinancing can be financially beneficial.
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