Refinancing Comes With Benefits

The reasons to refinance are endless, some include paying off high interest debts, paying for college tuition, cash to remodel your home or even to remove someone from title.

Reasons to Refinance

There are only a couple ways to structure your refinance. Online companies push bogus “teaser rates” and misleading info. Let’s structure your refinance with a specific direction in mind.

Ways to Refinance

Not sure where to start? That’s okay! We will walk you through the process. It starts with a phone call. Let’s outline all options, structuring choices, and a roadmap to goals.

Clarity to Refinance

Did you know there is no such thing as a “no-cost” refinance?

We see lenders advertise this all the time! You, as the client, will either roll all the costs into the loan amount or have to pay the fees out-of-pocket at closing. The only way a lender will be able to cover the closing costs, is by increasing the new rate so much so that there is enough credit to cover costs.

When working with Ryan Hrisca, you will have insight as to how he does his own personal refinance, and why…!

Inside Tip

Common Reasons To Refinance

Lower Your
Rate & Payment

Refinance into a lower rate and get a lower payment you’re comfortable with.

Pay Off a Home Faster
Or Shortening The Term

Refinance a 30-year mortgage into a shorter term to be your own master, faster.

Access Equity (Cash)
To Pay Off Debts

You earned it! Consolidate high-interest bills into a lower payment, with a tax deduction.

Remove A Co-Signer
From Your Home

Sometimes you need to remove a co-signer, you can this through a refinance.

5-DAY HELOC

Have a great rate, but still need cash?

get more info

We want you to make decisions with confidence and not simply take our word on how to structure your loan. Let’s review all refinance options together over the phone, in-person or via zoom for clarity!

Strategic Refinance Consultation

[Goals]

Whether you're looking to lower the rate & payment, consolidate debt or shorten the term, it's important we know your ultimate goal(s).

[Niche Programs]

Some programs offer a "streamlined" refinance option. during our call we can outline programs that may save you money, time and paperwork.

[Calculate Payoffs]

Most lenders use the amount showing on the credit report, we manually calculate for accuracy. This allows you to be in control of the final figures.

[Structure Options]

There are only three ways to structure a refinance, we will show you all of them. Let’s unpack how we conduct our own personal refinances and explain why!

Frequently Asked Questions

Yes! Depending upon your current financing, both FHA & VA allow for what they call a “streamline refinance”. If you’re currently in an FHA or VA home loan:
VA Streamline (IRRRL) Refinance – No appraisal required, Minimal documentation required, skip up to two months of payments.
- It must be your primary residence.
- You must be employed (but no income is verified).
- You must have made 12-months of on-time payments.
FHA Streamline Refinance – No appraisal required, Minimal Documentation and skip up to 2 payments.
- It must be your primary residence.
- You must be employed (no income verified).
- You must be on-time with your payments for the last 12-months.
Often times the documentation on a refinance can be streamlined. If you’re not self-employed, we can normally get away with only recent paystubs, identification, a mortgage and insurance statements.
If refinancing into a Conventional home loan, often times Fannie Mae or Freddie Mac will give you an appraisal waiver and it will not be required.
VA will only require an appraisal if you are pulling cash out of your home. They do not require an appraisal on their streamline (“IRRRL”) refinances.
FHA streamline refinances do not require an appraisal, but a regular or cash-out refinance will.
At the end of the day, it depends upon the program, type of property and reason for refinance (cash-out, lower payment, etc.).
Yes! A “cash-out refinance” will allow you to pull equity out of your home to be used any way you see fit. Consolidate debt, pay off student loans or even use towards home improvements to increase the value.
Each program has it’s limits on how much of the equity you can possibly pull out.
VA – Access up to 100% of your homes value.
FHA – Allows you to pull out up to 85% of your homes value.
Conventional – depends up the type of home:
- Primary Residence, 1-unit – Up to 80% of homes value.
- Primary Residence, 2-4 Units – Up to 75% of homes value.
- Second Home – Up to 75% of homes value.
- Investment Property, 1-unit – Up to 75% of homes value.
- Investment Property, 2-4 units – Up to 70% of the homes value.
** The above limits are subject to change based upon updates to guidelines.
Yes, if you have at least 20% equity in your home, you can refinance and have the monthly PMI removed.
We can close your refinance in as little as two weeks. Obviously this is assuming we aren’t waiting for requested documents for days on end. It’s important to know that a refinance is much easier than a purchase, as there are “less cooks in the kitchen”…