Refinance A: Home

: Frees up cash in your monthly budget.

: Sign the new loan documents and pay closing costs. Types of Refinancing Rate-and-Term Refinance

: Provide income, asset, and debt documentation. refinance a home

You pay a lump sum toward your loan balance during the refinance. This lowers your loan-to-value ratio and can help you secure a better rate or eliminate mortgage insurance. Pros and Cons

This option allows you to borrow more than you owe on your current mortgage. You receive the difference in cash to use for home improvements or debt consolidation. Cash-In Refinance : Frees up cash in your monthly budget

: Determine if you want a lower payment or a shorter term.

: Allows you to pay off high-interest debts using home equity. You pay a lump sum toward your loan

: Check your credit score and debt-to-income ratio.