Frequently Asked Questions

   Refinancing is a great idea if it will enable you to secure a lower interest rate, wich could save you thousands of dollars over the life of the loan. Refinancing is also a great way to unleash cash from your home, with a cash-out refinance loan.

   Yes, as long as you keep your home long enough to where the money saved on interest more than makes up for the money spent on closing costs.

   Yes. Most lenders offer some type of cash-out refinance, which involves refinancing for the amount owed on the old loan plus rolling in some of the equity.

   You may be able to eliminate PMI by refinancing. If, by refinancing, you are able to have at least 20% equity in your home, and you have made your house payments on time for the last year or so.