Refinancing Your Home

Which refinancing option is best for you?

young-coupleIt seems like there are more loan programs than people to qualify for them. The Smart Team will work with you to qualify you for the loan program that best fits your needs. Keep the following general considerations in mind. Are you refinancing primarily to lower your rate and monthly payments? If you have a fixed-rate mortgage now with a higher rate or an ARM — adjustable rate mortgage — where the interest rate varies, your best option may be a low fixed-rate loan. Unlike your ARM, when you qualify for a fixed-rate mortgage, you lock that low rate in for the life of your loan. If you don’t think you’ll be moving within the next five years, a fixed-rate mortgage may be your best option. However, if there is a chance that you may move within the next few years, an ARM with a low initial rate might be the best way to lower your monthly payment.

Refinance Programs
  • HARP 2.0
  • FHA Refinancing
  • VA
  • USDA
  • Conventional

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