Learn More About Your Refinance Options
Conventional Loans
Borrowers who want to remove PMI – If you’ve gained enough equity (20%+), you can eliminate private mortgage insurance.
Homeowners looking to lower their interest rate – Reduce your monthly payment and save on long-term interest.
Credit Score: Typically 620+ for best rates, but higher scores (700+) may qualify for lower interest rates.
Lenders typically require a DTI below 43%, though some may allow up to 50% with compensating factors.
FHA Loans
Current FHA borrowers looking for an easy refinance – FHA Streamline Refinancing requires minimal paperwork and no appraisal.
Homeowners with limited savings – Lower upfront costs make refinancing more accessible.
Borrowers with past credit challenges – FHA refinances have lenient credit requirements and allow higher debt-to-income ratios.
Homeowners wanting lower monthly payments – Reduce interest rates and lower your mortgage insurance costs with an FHA refinance.
VA Loans
(For Veterans & Active-Duty Military Only)
Eligible veterans, active-duty service members, and spouses – Access exclusive low-interest VA refinance programs.
Homeowners looking for a VA Streamline (IRRRL) refinance – No appraisal, no income verification, and reduced paperwork.
Borrowers wanting to cash out home equity – VA Cash-Out Refinance lets you access your home’s value for debt consolidation or expenses.
Homeowners looking to lower their interest rate – VA loans often offer some of the lowest mortgage rates available.
USDA Loans
(For Rural & Suburban Homebuyers)
Current USDA loan holders looking for an easy refinance – USDA Streamline Assist lets you refinance without an appraisal.
Homeowners with low-to-moderate income – USDA refinances maintain income eligibility requirements.
Borrowers looking to reduce their mortgage payment – Take advantage of lower interest rates and cheaper mortgage insurance.
Homeowners wanting a more affordable loan structure – USDA refinancing options help reduce long-term costs.
Jumbo Loans
(For High-Value Home Purchases)
Homeowners with high-value homes – Needed for refinances above $726,200 (or higher in certain markets).
Borrowers with strong credit and financial reserves – Typically requires a 700+ credit score and 6-12 months of reserves.
Homeowners looking to lower their interest rate on a large loan – Reduce payments on luxury or high-cost properties.
Borrowers wanting to take cash out on a high-value home – Access home equity for investments, renovations, or debt consolidation.
Non-QM Loans
(For Unique Financial Situations)
Self-employed homeowners and freelancers – Qualify using bank statements instead of tax returns.
Borrowers with non-traditional income sources – Ideal for business owners, commission-based earners, and entrepreneurs.
Homeowners with credit challenges – Non-QM refinancing allows flexible underwriting for those with recent bankruptcies, foreclosures, or high DTI ratios.
Credit Score Flexibility: Some lenders approve scores as low as 500-620, though better terms are available for 680+ scores.
Helocs/Heloans
(Home Equity Lines Of Credit)
Homeowners looking for flexible access to cash – Use your home’s equity as a revolving line of credit (HELOC) or a lump sum loan (HELOAN).
Borrowers who want to fund home improvements, debt consolidation, or major expenses – Tap into your equity for renovations, medical bills, education costs, or investments.
Homeowners wanting a lower-cost alternative to personal loans or credit cards – HELOCs and HELOANs typically offer lower interest rates than unsecured loans.
Borrowers who don’t want to refinance their first mortgage – Keep your current mortgage rate while accessing additional funds.
DSCR Loans
(Debt Service Coverage Ratio Loans)
Real Estate Investors Looking to Refinance Without Income Verification – DSCR loans focus on rental income, not personal income, making it easier to qualify.
Unlock Cash Flow by Refinancing Your Investment Property – Use your rental income to refinance and secure better loan terms without tax returns or pay stubs.
Lower Interest Rates and Optimize Your Investment Portfolio – Refinance your DSCR loan to reduce costs, increase profit margins, and scale your real estate business.
Avoid Traditional Loan Hurdles – No employment history or W-2s required—approval is based on property cash flow, making refinancing simple and investor-friendly.
Reverse Loans
(Debt Service Coverage Ratio Loans)
Real Estate Investors Looking to Refinance Without Income Verification – DSCR loans focus on rental income, not personal income, making it easier to qualify.
Unlock Cash Flow by Refinancing Your Investment Property – Use your rental income to refinance and secure better loan terms without tax returns or pay stubs.
Lower Interest Rates and Optimize Your Investment Portfolio – Refinance your DSCR loan to reduce costs, increase profit margins, and scale your real estate business.
Avoid Traditional Loan Hurdles – No employment history or W-2s required—approval is based on property cash flow, making refinancing simple and investor-friendly.
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Frequently Asked Questions
When should I consider refinancing my mortgage?
Refinancing may be a good option if you want to lower your interest rate, reduce your monthly payments, switch from an adjustable-rate to a fixed-rate mortgage, or tap into your home’s equity for cash. It’s best to evaluate your financial goals and market conditions before making a decision.
Will refinancing my mortgage impact my credit score?
Refinancing involves a credit inquiry, which may cause a slight dip in your score. However, if you make timely payments on your new loan, your credit can recover quickly, and you may even see improvements over time.
How much does it cost to refinance my home?
Refinancing costs typically range from 2% to 5% of the loan amount and may include fees for the application, appraisal, title search, and closing. Some lenders offer no-closing-cost refinancing, which rolls these fees into the loan balance.
What credit score do I need to qualify for a home loan?
While requirements vary by loan type, a conventional mortgage typically requires a credit score of 620 or higher. FHA loans allow for lower scores, often starting at 580 with a low down payment. VA and USDA loans also have flexible credit requirements.
How much down payment do I need to buy a home?
The down payment depends on the loan type. Conventional loans typically require 5%–20%, FHA loans allow as little as 3.5%, and VA or USDA loans offer 0% down payment options for eligible borrowers. Down payment assistance programs may also be available.
