Whitley Mortgage Associates, Inc. NMLS# 107585

Refinancing

Refinancing is the process of replacing an existing Conventional, FHA, VA, Jumbo, or USDA mortgage with a new loan. Many homeowners seek to refinance their mortgage in order to reduce their monthly payments, lower their interest rate, or change their loan from an adjustable rate mortgage to a fixed-rate mortgage. In addition, some homeowners need access to cash in order to fund renovation projects or pay off various debts and will leverage the equity in their house to obtain a cash-out refinance.

Ready to work with Whitley Mortgage?

Please feel free to call us anytime Monday through Friday at 704-283-9465.

Whatever the reason, the refinancing process works much the same as when you applied for your original mortgage: you’ll need to take the time to research your loan options with one of our loan officers, consider your credit score, calculate loan balance and collect the right financial documents and submit a mortgage refinancing application. The Whitley Mortgage team is always ready to assist you in this process.

Some of the potential advantages of refinancing include:

  • Lowering your monthly payment
  • Remove private mortgage insurance (PMI)
  • Reducing the length of your loan
  • Switching from an adjustable-rate mortgage to a fixed-rate loan in order to have stable monthly payments
  • Consolidating your first mortgage and your home equity line of credit (HELOC) to simplify your finances and focus on one debt with one monthly payment
  • Using the equity in your home to take out cash to finance home improvements, pay off debts or to fund large purchases.

To see if refinancing would be right for you, contact Whitley Mortgage today to explore all your financing options.

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At Whitley Mortgage, we want to help you purchase the property that you have always dreamed of – whether it’s your first home, commercial real estate or a vacation home.

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