Refinance Mortgage Loans
Lower Your Payment or Access Your Home's Equity
Mortgage refinancing including rate-and-term, cash-out, FHA streamline, and VA IRRRL options help you achieve your financial goals. Whether you want to lower your monthly payment, shorten your loan term, or access your home's equity for major expenses, refinancing offers powerful solutions.
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Comparing Your Refinance Loan Options
From a simple rate reduction to accessing the cash value in your home, each refinance program serves a different purpose. This table compares the most common refinance options to clarify which path aligns with your goals.
| Feature | Rate-and-Term Refinance | Cash-Out Refinance | FHA Streamline | VA Streamline (IRRRL) |
|---|---|---|---|---|
| Primary Goal | Lower rate/payment or change loan term. | Access home equity as cash. | Lower rate/payment on an existing FHA loan. | Lower rate/payment on an existing VA loan. |
| Cash Back at Closing | No (or very limited). | Yes, based on equity. | No. | No. |
| Appraisal Required? | Usually yes. | Yes. | No (in most cases). | No (in most cases). |
| Income Verification? | Yes. | Yes. | No (in most cases). | No (in most cases). |
| Best For | Homeowners who want to save money on their existing loan. | Homeowners needing cash for large expenses (renovations, debt, etc.). | FHA borrowers who want a fast, simple refinance. | VA borrowers who want a fast, simple refinance. |
In-Depth Guide to Refinance Loans
Let's explore the details of each refinance program.
Frequently Asked Questions
Ready to Lower Your Payment or Access Equity?
Our refinance experts can help you find the best option to achieve your financial goals, whether you want to save money monthly or access your home's equity.
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