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Refinance Loan

What is refinancing?

Refinancing is when you replace your current mortgage with a new home loan. This new loan comes with a new term, interest rate and monthly payment that is normally cheaper in the long-run. Who wouldn’t want that?

Choose from two types of refinance options:

  • Rate-and-Term Refinance- Consider this option if your financial status changes and you wish to pay your house off early or if your current interest rate is higher than the market rate.
  • Cash-Out Refinance- Consider this option if you would like to take some of the equity out of your home and use it as cash for other purposes.

 

Choose from two types of refinance loans:

FHA Streamline

Choose this loan if you are a homeowner who used an FHA loan to purchase your home and wish to obtain a lower interest rate and monthly mortgage payment. This option requires limited documentation and underwriting.

VA Interest Rate Reduction Refinance Loan (IRRRL)

Choose this loan if you are a service member or Veteran. The process is much easier and requires less paperwork than other home financing options.

Crunch The Numbers

There are tons of benefits that can result from refinancing your mortgage. Talk to your loan officer to assess which refinance option is the right one for you. 
 

Reasons to refinance:

 

  • Lower your monthly payments
  • Borrow money with a Cash-Out
  • Switch to a fixed-rate mortgage
  • Change mortgage term
  • Consolidate debt
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Default amounts are hypothetical and may not apply to your individual situation. This calculator provides approximations for informational purposes only. Actual results will be provided by your lender and will likely vary depending on your eligibility and current market rates.

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© Copyright 2016 EVESHAM MORTGAGE. "Preparing you for generations to come."

103 Route 70 East. Suite 2

Marlton, NJ 08053

(856) 985-9944

NMLS     |     FAIR LENDER     |     FAIR HOUSING

“Licensed by the NJ Department of Banking and Insurance, Pennsylvania Department of Banking and Securities, Florida Office of Financial Regulation.  NMLS #195400

© Copyright 2016 EVESHAM MORTGAGE. "Preparing you for generations to come."