Refinance
Save Money or Get Cash Out with a Refinance
It’s a single-closing transaction, meaning you don’t have to complete a second transaction after renovations are complete.
Lender manages the renovation process, so you don’t have to deal with the headache of managing contractors, invoicing, and payments.
Qualifying renovations include repair, upgrade, or add permanent structures and fixtures such as, but not limited to, additional units, hardscaping, pools, major appliances, and remodels.
Flexible terms include fixed and adjustable rate options and 10 to 30 year terms.
Benefits
Refinancing at a Glance
There are generally two reasons to refinance: change the interest rate and/or term, or borrower against your equity to get cash out.
A Rate and Term refinance is used to replace your existing loan with one having a different interest rate and/ or loan term. This usually means getting a lower rate, which can save you a lot of money monthly and over the term of your loan.
The rule of thumb is it’s a good idea to refinance if you can recoup the closing costs within three years.
A Cash-Out refinance is getting a new loan to pay off your existing , plus pulling additional cash out of your equity. This “cash out” can be used for a variety of purposes. Most common are debt consolidation to replace high interest debt or reduce your overall monthly expenses, home renovations, or college tuition.
What would you use the extra cash for?
Refinance with the help of your Mortgage Hub Consultant
Personal service, expert guidance, from start to finish.
And a whole lot more…
- Low rates
- Excellent support
- Quick closing
We’re here to help. So if you’re not sure if this type of loan is right for you, call us at (888) 273-8734 or schedule a free consultation.
READY TO PROCEED? Get your custom quote or begin your loan application now.