Is It Too Late to Refinance Your House This Year?

Is It Too Late to Refinance Your House This Year?
Is It Too Late to Refinance Your House This Year?

After our post “Is it Too Late to Buy a Home This Year”, lots of people were asking if it was too late to refinance your house this year.  Well, if you get started now, it’s likely not too late!

With mortgage interest rates near record lows, and home values rising rapidly, a ton of homeowners can benefit from refinances.  Whether refinancing to lower your payment, or take cash out, or shorten the term of your loan, we will work hard to get you closed, like many of our borrowers, in 30 days.

When you refinance your house, you are essentially taking out a new mortgage to replace the one you currently have, but with more favorable rates and terms for you. 

The fastest programs to refinance your house are Streamlines from FHA and USDA, as they don’t need an appraisal, while conforming loans close faster if the loan receives an appraisal waiver or a PIW (property inspection waiver) through the AUS (Automated Underwriting System).

The real key to this is actually you!

If you want to refinance your house this year, before 2021, your responsiveness is the key!  You need to be quick with responses to our need for documents and information so that we can get it input for you, or you can use our very fast, secure 5-Minute Mortgage Approval app to upload your documents and info for even faster results.

Choosing the refinance that fits your needs is important as well.  If you have credit card debt, want to make home improvements or repairs, or want to put money in your pocket, a Cash-Out Refinance is the way to go. 

This loan takes out a new loan that is more than you currently owe, and you get a check at the end for the difference.

If you want to lower your monthly payment or shorten the length of your loan, a Rate-and-Term refinance is the best way to go. 

These will adjust the mortgage interest rate for your home and the length of your mortgage to benefit you, lowering your payment or changing the length of your loan to allow you to spread out the payments or pay less in interest on a shorter loan.

If you want to get a loan closed this year, the only way is to get started NOW.

Call The Home Loan Expert Team in St. Louis at (314) 781-9700, Chicago at (773) 770-4727, Indianapolis at (317) 550-1515, and Nashville at (615) 810-8555.  You can always apply online with our 5-Minute Loan Approval at hero.loan for your VA Loan, and www.thehomeloanexpert.com for your other mortgage needs, and we’re also open on Saturdays and will come to you to help close your loan. We work hard to make it easy on you.  Nobody gets lower rates on better loans than The Home Loan Expert, Ryan Kelley, why go anywhere else?

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