Mortgage Refinance

Conventional Fixed Rate Options:
With a fixed rate conventional Home Loan, your monthly payments will always be predictable. The interest rate is fixed for the life of the loan, so your monthly principal and interest payment will never change. With flexible options and competitive rates conventional fixed rate home loans are a good way to protect yourself against rising costs of interest rates.

Conventional Adjustable Rate Option:
If you want the advantage of a low initial interest rate, you may want to check out our conventional adjustable rate mortgages (ARM). With an ARM, the interest rate will be fixed for a stated period of time and then becomes adjustable for the remainder of the loan. For example a 3 year ARM has a fixed interest rate for the first three years and then for the final 27 years the rate will adjust periodically, (normally once a year) based on the changes of current market interest rates. When the interest rate adjusts, so does your payment. If interest rates rise, your payment will rise. If the interest rate goes down, so does your payment.

Balloon Payment Options:
If you plan to payoff your mortgage in less than 7 years on a conventional home loan, balloon options may suit you. With a conventional balloon loan, you get the benefit of a fixed monthly payment and a reduced interest rate. The interest rate is lower than most fixed rate home loans and very attractive to borrowers who are likely to move within the balloon term.

FHA home loans:
If your home is currently financed with an FHA insured loan you are eligible to reduce you're current rate and save with the FHA streamline refinance program. This streamline refinance has reduced documentation requirements and it's easy to qualify. You can usually refinance with nothing more out of your pocket than you're normal monthly payment amount. So start working on a streamline refinance today and start saving on your monthly mortgage payment. FHA home loans are insured by the Federal Housing Administration (FHA), a division of Housing and Urban Development (HUD). HUD does not generally provide the funds for the mortgages, but they insure mortgage loans made by private industry lenders, such as banks and mortgage bankers.

VA home loans:
If your original mortgage on your home is a VA mortgage, you are eligible for a VA rate reduction refinance. With virtually no paperwork, no qualification, no income verification, no appraisal, and no money out of your pocket you can reduce your interest rate and monthly payment. Just like your original VA loan the rate reduction refinance loan is guaranteed by The U.S. Department of Veterans Affairs. The VA loan programs allow veterans to obtain home loans with favorable loan terms, and refinance with ease all with minimal no cash-out-of-pocket. For VA housing loan purposes, the term "veteran" includes certain members of the Selected Reserve, active duty service personnel and certain categories of spouses.