Ready to refinance? We will help you achieve your goals.
The hard work is done — you found and bought a home. Now it has been a few years, and you are looking to upgrade your home loan by refinancing. You may be looking to cut your monthly payment down, change the length of your loan, cash out some of your home equity for a remodel or to consolidate debt. A refinance allows you to switch into a new loan that could help you achieve one or more of those goals. By comparing rates and terms from multiple lenders, First Class Mortgage can help you save thousands of dollars in interest over the life of the loan—perhaps pay off your mortgage sooner—or, reduce your monthly payment.
Common Refinancing Goals:
- Lower your monthly payment
- Reduce your interest rate
- Pay off your mortgage earlier
- Remove mortgage insurance
- Convert to a fixed-rate mortgage
- Pay off debt
Is it the right time for you to consider mortgage refinancing? Learn more about if and when it is the right decision for your home's financing.
If you want to make your payments more comfortable and your home value is steady or has increased, you may be able to refinance your mortgage with a traditional refinance loan. You’ll go through an application, approval and closing process, similar to when you got your original mortgage.
Traditional loans are backed by Fannie Mae or Freddie Mac, and they are generally the lowest-cost refinance loans.
Home Affordable Refinance Program (HARP)
The government’s Home Affordable Refinance Program (HARP) has been expanded to help more homeowners qualify for refinancing their mortgage. Even those with little or no equity available may take advantage of low interest rates, and other refinancing benefits. For more information on this program, contact us to see if you qualify.
A cash-out refinance pays off your current mortgage and uses your home equity to provide additional money for other uses. To decide if cash-out refinancing is right for you, first weigh the benefit of how you’ll use the money against the amount of time it takes to pay off the loan.