Home Refinancing

If you’re considering refinancing your home, First Vision Mortgage can provide many solutions, whether looking for a cash-out refinance to use your home’s equity or simply trying to find a better interest rate.

 

Our loan professionals take the time to understand your needs and can help inform you about the right product for your specific situation. There are many benefits to refinancing your home which may include lowering your payment or paying off your loan faster. So let us help, we’ll guide you every step of the way.

Refinancing
Refinancing products

Types of Refinancing Loans

Our offices offer a mix of refinancing options which include a cash-out refinance where you can complete projects around the home or other options to reduce your payments or payoff plan.

Cash Out Refinance

Cash-out Refinance

With a cash-out refinance, you take advantage of the equity you’ve built over time and receive cash in return for taking on a more substantial mortgage. With a cash-out refinance, you borrow more than you owe on your mortgage and keep the difference. This type of loan is commonly utilized for home renovations and debt consolidation.

Rate and Term

Rate and Term

With a rate and term refinance, you can change the terms of your current loan to something better for you. When you refinance, you receive a new loan, pay off your old mortgage, then make payments toward your newly acquired loan. With a rate and term refinance, you can pay your loan off faster, have a lower interest rate, or make your payments smaller.

VA Interest Rate Reduction Loan

VA Interest Rate Reduction Loan (IRRRL)

Interest Rate Reduction Loans or IRRRLs may be the right choice for you if you already have a VA-backed home loan and want to lower your monthly payments. Getting a lower interest rate on these loans can help you lower your monthly mortgage payment.

FHA Streamline Refinance

FHA Streamline Refinance

An FHA streamline refinance loan involves refinancing an existing FHA-insured mortgage with limited credit documentation. Streamline refinance loans come with credit qualifying and non-credit qualifying options.

USDA Streamline Refinance

USDA Streamline Refinance

You may be able to refinance your home loan with a USDA Streamline Refinance if you have a USDA loan. Even if a homeowner hasn’t built much equity in their home, USDA Streamline allows them to benefit from low-interest rates and favorable loan terms.