Rate & Term Versus Cash Out
In a cash-out refinance, you are both paying off your current home loan and 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 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 are currently back to near all-time low levels.
- Switch from an adjustable rate mortgage to a fixed rate term.
- Add or remove a borrower from your home mortgage – divorce, etc.
- Perhaps you want a reduce the term from a 30 year to 15-year fix and reduce your interest rate at the same time.
We offer a wide variety of mortgage refinancing programs. 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 to your home, consolidate a 1st and 2nd mortgage or pay off high-interest debt. The cash-out refinance options can help.
Please connect with us 7 days a week with questions by calling the number above or just submit the Request Contact form on this page.
- 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.
Our partners can provide higher loan values than most mortgage lenders.
- Up to 100% VA cash-out refinance
- Up to 90% Conventional loan refinance
- Up to 90% cash out Jumbo refinance. Please see special Jumbo Refinance options here.
- Simple and expedient closings
- Free loan application and mortgage consultations
- Easy online applications and tracking of your loan
- 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 7 days a week.
- Please read more about Cash Out Refinance here.
Questions? Contact us today by calling above, or just submit the quick Request Contact form up top.