A refinance loan is the replacement of your existing mortgage with a new home loan that may have different or more favorable terms, such as a shorter repayment term, a lower interest rate, or lower monthly payments.

Rate & Term Refinance

Rate and Term Refinance is a type of mortgage refinance where a borrower replaces their existing mortgage with a new mortgage that has a lower interest rate or better loan terms, such as a shorter loan term or a fixed rate instead of an adjustable rate.

The goal of a rate and term refinance is to lower the borrower’s monthly mortgage payments or to pay off the mortgage faster.

Cash-Out Refinance

A cash-out refinance is a type of mortgage refinancing where a borrower replaces their existing mortgage with a new mortgage that has a higher principal amount, and then receives the difference in cash at closing. In other words, the borrower is borrowing additional funds beyond the amount needed to pay off their existing mortgage.

This process is used to access the equity in a borrower's home to pay for significant expenses such as home improvements, debt consolidation, or other large purchases. Cash-out refinances are often considered riskier than traditional refinances because the borrower is taking on more debt and must pay additional closing costs.



The VA Interest Rate Reduction Refinance Loan is a hassle-free refinance product for those who currently have a VA home loan. If you’re a qualified Veteran, an IRRRL may be perfect to lower your monthly payments along with other benefits.


  • Home appraisal is not always required
  • Little or no out-of-pocket costs, in most cases
  • Simple and fast closing with no income verification, in most cases

FHA Streamline Refinance

An FHA Streamline Refinance provides borrowers with a simplified and quicker way to refinance their existing FHA mortgage. This type of refinance is often used to get a lower interest rate, reduce monthly payments, and switch from an adjustable rate to a fixed-rate loan. 


  • No appraisal required
  • No income verification is required
  • Credit requirements are simplified
  • Primary residence and rentals are eligible