Refinancing: Cash Outs, Rate and Term
Tap into your equity or lower your rate to better fit your financial goals.
Refinancing gives homeowners the opportunity to update their mortgage to better match their financial goals. Whether you want to lower your interest rate, change your loan term, or take cash out from your home’s equity, there is a refinancing option that fits. Refinancing can improve monthly cash flow, eliminate debt, or help you pay off your loan faster.
Refinances Are Good For:
Refinancing is a great option for homeowners looking to lower their monthly payments, adjust their loan term, or access equity for renovations or major expenses. It also benefits those consolidating debt or switching from FHA or VA loans to remove mortgage insurance.
Refinance Details
Cash Out refinances give you the ability to borrow more than you owe on your current loan and take the difference as cash. This is often used for home improvements, debt consolidation, or major expenses. Most lenders require you to maintain at least 20 percent equity in your home after the refinance.
This option allows you to lower your interest rate, switch from an adjustable to a fixed rate loan, or change your loan term. Reducing your rate can decrease your monthly payment, while shortening your term can help you pay off your home faster and save on total interest paid.
Programs often allow lower credit scores or alternative credit history. Income limits may apply depending on the loan program or assistance you’re using. Homebuyer education is often required to help you prepare for long-term success.
The right refinance option depends on what you want to achieve. Whether you are focused on monthly savings, equity access, or paying your loan off sooner, we can help you compare the possibilities and make an informed decision.
Secure Your Refinance at One of Our Branches
Refinancing can be a smart way to improve your financial future. Whether you are exploring a Rate and Term refinance or a Cash Out option, our loan officers are here to guide you through the process. Let’s talk about your goals and see how refinancing could help you reach them.
Hear From People Who Loved Working With Us
Our clients come first, with communication and transparency as our goal, we make sure you never miss a beat. See what our customers are saying about their Absolute Home Mortgage home buying experience.
We Have Answers
What’s Happening in Absolute Life
Follow us with the latest and greatest happenings with Absolute Life.
We’re here for you. Take the first step and apply now.