A refinance is simply paying off your existing loan, with a new one. There are many reasons homeowners choose to refinance. Generally  for a lower interest rate /payment.  Reducing your interest rate not only helps you save money, but it increases the rate at which you build equity in your home, and it can decrease the size of your monthly payment.  When it comes to a Rate/Term refinances, (as a general rule-of-thumb), if you can lower your interest rate by one full percent, it would makes sense to refinance. When interest rates fall, homeowners often have the opportunity to refinance an existing loan for another loan that, without much change in the monthly payment, has a shorter term.

Do you have an Adjustable-Rate and want the security of a Fixed-Rate Mortgage? While ARMs (adjustable rate mortgage) start out offering lower rates than fixed-rate mortgages, periodic adjustments often result in rate increases that are higher than the rate available through a fixed-rate mortgage. When this occurs, converting to a fixed-rate mortgage results in a lower interest rate as well as eliminates concern over future interest rate hikes. Conversely, converting from a fixed-rate loan to an ARM can also be a sound financial strategy, particularly in a falling interest rate environment. If rates continue to fall, the periodic rate adjustments on an ARM result in decreasing rates and smaller monthly mortgage payments, eliminating the need to refinance every time rates drop. Converting to an ARM may be a good idea especially for homeowners who don’t plan to stay in their home for more than a five years.

Some homeowners  take cash out of their homes equity for home improvements, college tuition, or debt consolidation.  At face value, replacing high-interest credit card debt with a low-interest mortgage is a good idea. Only if the homeowner does not accrue more debt once they’ve consolidated.  That would defeat the purpose and benefits from the consolidation loan.

Another great benefit of refinancing can be removing PMI (private mortgage insurance).  If you purchased your home with a minimum down-payment, which required mortgage insurance, you may now be able to refinance at a lower LTV (loan-to-value).  With the rise of home equity, many homeowners can get rid of expensive mortgage insurance.

Bottom line…refinancing can be a great financial move if it reduces your mortgage payment, shortens the term of your loan or helps you build equity more quickly. When used carefully, it can also be a valuable tool in getting your debt under control. Before you refinance take a careful look at your financial situation, and ask yourself: How long do I plan to continue living in the house? And how much money will I save by refinancing?

Conventional Financing

VA Loans

FHA Loans

Jumbo Loans

Reverse Mortgage

Conventional mortgages are ideal for borrowers with good or excellent credit. Conventional loans boast great rates, lower costs, and home buying flexibility. A conventional, or conforming, mortgage adheres to the guidelines set by Fannie Mae and Freddie Mac. It may have either a fixed or adjustable rate.

The VA loan is a mortgage loan issued by approved lenders such as Veterans United Home Loans and guaranteed by the federal government. The VA Loan program has helped place more than 20 million veterans and their families into an affordable home financing situation. VA helps Service members, Veterans, and eligible surviving spouses become homeowners.

The FHA loan is a mortgage program administered by approved lenders with the Federal Housing Administration and overseen by the federal government. The FHA Loan program are popular among first-time buyers that allows a minimum of 3.5 percent as a down payment.

If you’re looking to find your “forever” home, and know that as time goes on your income will increase, a Jumbo loan could be an affordable home loan option for you. This may be a good way to bypass the “starter home” and prevent you and your family from moving at a later date to a bigger home.

A reverse mortgage is a loan available to homeowners, 62 years or older, that allows them to convert part of the equity in their homes into cash. The product was conceived as a means to help retirees with limited income use the accumulated wealth in their homes to cover basic monthly living expenses and pay for health care.


Whether you’re a first-time buyer or an old pro at the real estate game, buying a home is definitely an exciting time, but it can be stressful as well.   It is important to us that you feel confident about your home loan process, and you have a firm understanding of what to expect.  Before you begin shopping around, it’s important to get your loan pre-approved.  Not only to re-assure you of your qualification, but to also let the sellers know that you’re a serious buyer.   While it’s not guaranteed, having a pre-approval letter highly increases your chances of getting your offer accepted.  To answer some of your questions we have prepared some very informative documents for your review. Need more guidance or have a specific question? Please feel free to call us so that we may better serve you.

First-Time Buyer Program