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Refinance Loan

Lower your rate or access equity by refinancing your mortgage.

Whether buying a first home, upgrading to a larger space, or purchasing an investment property, a purchase loan can provide the financing needed to secure the right property.

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Refinance Loan Features

Refinancing offers various options to improve your mortgage terms.

Potential for Lower Monthly Payments

Ability to reduce monthly payments through lower rates or extended terms.

Loan Term Flexibility

Options to select loan terms ranging from short to long durations.

No Prepayment Penalties

Typically, refinancing does not involve prepayment penalties, allowing for greater flexibility.

Cash-Out Refinance Options

Ability to refinance with cash-out provisions for accessing home equity.

Benefits of a Refinance Loan

Improved Cash Flow

By lowering your monthly payment, refinancing can help improve your cash flow and free up funds for other uses.

Debt Consolidation

Tap into your home’s equity to consolidate higher-interest debt into a single, more manageable payment.

Adjustable Terms

Refinance to a shorter loan term to pay off your mortgage faster or extend the term for lower monthly payments.

Lower Cost of Funds

Access funds at potentially lower rates than credit cards or personal loans, reducing overall borrowing costs.

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Let A and N Mortgage guide you through the refinancing process, offering personalized solutions to meet your financial objectives.

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loan FAQ

Loan Program

Frequently Asked Questions

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Some loans will allow you to secure just a 5% down payment plus closing costs. Another option is a piggy-back loan where you get approved for the first and second mortgage to avoid PMI. You could also apply for an FHA loan which only requires a 3.5% down payment.

However, your interest rate will likely be higher, and you will be required to buy private mortgage insurance (PMI).