Refinancing Your Home

A refinance is paying off an existing mortgage by replacing it with a new loan. When doing this, clients may be a lower interest rate, reduce their loan term/payments, and save money on the interest charge to the bank. You may want to get cash at the closing by borrowing against the equity in your home. We will help you make the right decision given your personal goals.

Regular Refinance

You may be able to lower your interest rate, reduce your payment, reduce the term of your loan, and possibly include your closing costs in the new loan. We even have $0 closing cost options, all backed by our rate guarantee program.   In these trying economic times, rates are at historic lows and If you are a homeowner paying more than 5.25% on your home loan you should call us. We offer:

  • Government VA refinances up to 100% (Loan to Value “LTV”) IRRL
  • Conventional Refinances up to 125% (LTV)
  • Jumbo Loans up to 90% (LTV)
  • Government FHA refinances up to 96.5% LTV

Cash-out Refinance

Cash out, or home equity refinances allow borrowers to tap into their homes equity to help meet any number so of financial goals, all for a low first mortgage rate.

  • New appraisal is required
  • Discount points vary depending on the credit score, loan-to-value occupancy status and multiple units.
  • Conventional and FHA cash out available.

Streamline Refinance

A streamline refinance is the most convenient way to lower your mortgage payments. Most streamline refinances reduce the rate and payment keeping your term the same. We offer 3 options:

  • Conventional Streamline refinance
  • FHA Streamline without appraisal or with appraisal
  • VA streamline refinance

Term Reduction Refinance

A refinance when you go from a higher term, such as 30 years, to a lower term like a 15 year fixed.  This is the best way to save on paying interest.  Hippo Financial will show the benefits of doing this type of sensible financial secure refinance.  The math speaks for itself, and if you are going to live in this home for the foreseeable future, invest in your debt until it’s paid Free and Clear.  Example on a $200,000, 30 year fixed at 4.25% you will pay $154,196 in interest.  On a $200,000 15 year loan at 3.25% you will pay %52,961 in interest.  That’s 102k savings after tax in your pocket that you should want to keep in your checking account.  If you would like to talk about paying extra on a 30 year term, we will show you how you will not pay down the interest, just principal at the end of the loan.  Urban legend exposed.

Call today to get approved toll free (877) 630-7730!