Rate & Term Versus Cash Out
In a cash out refinance you are both paying off your current home loan as well as receiving additional funds back at closing. With a rate & term refinance, you are only going to pay off your current loan(s) and keep your equity in your home. The rate & term refinance options at Five Stars Mortgage will help lower your mortgage interest rate and monthly payments to save you money. There are a variety of reasons to chose to rate & term refinance your home loan:
- Lower your current mortgage interest rate – Interest rates in 2016 are near all-time low levels.
- Switch from an adjustable rate mortgage to a fixed rate term.
- Add or remove someone from your home mortgage.
- Perhaps you want a reduce the term from a 30 year to 15 year fix and reduce your interest rate at the same time.
At Five Stars Mortgage, we are proud to put our clients first. We offer a wide variety of mortgage refinancing programs in 2017. Regardless if you have an FHA, VA, USDA, Conventional or Jumbo loan, there is sure to be a program that fits your needs. Take advantage of one of our mortgage refinancing programs today!
Be sure to compare the difference between the initial note rate and the annual percentage rate quoted to you by your mortgage company.
Cash Out Refinance
Life is full of surprises and sometimes you just need cash quickly. Maybe you want to start a new addition on your home, consolidate a 1st and 2nd mortgage or pay off high-interest debt. The cash out refinance at Five Stars can help.
- Cash out equity to pay off higher interest debt like credit card bills, etc
- Some programs ( Like the VA Cash Out) permit up to 100% loan to value cash out.
Five Stars Mortgage can provide higher loan values than most mortgage lenders. At Five Stars Mortgage we offer:
- Nationwide – we assist homeowners in all 50 states
- Simple and expedient closings
- Free loan application and mortgage consultations
- Easy online applications and tracking of your loan
- Jumbo and Super Jumbo loans
- Same day response on your application
- Deal with people that value your business. Our mortgage professionals understand that you are our number one priority. We are here to serve you and your needs.
- Please read more about Cash Out Refinance options here.
Questions? Contact us today by calling ph: 800-871-2636 or just submit the quick Request Information form up top.