Rate & Term Refinance
A rate and term refinance is designed to improve the structure of your current mortgage without pulling out equity.
When this may be right for you:● Interest rates are lower than when you first purchased your home.● You want to switch from an adjustable rate to a fixed rate or vice versa.● Your credit score or debt-to-income ratio has improved.● You’d like to remove mortgage insurance (MIP or PMI).● You want to shorten your loan term to pay off your mortgage faster.● You’d like to extend your term to lower your monthly payments.
Key Benefits:● Potentially lower your interest rate.● Reduce your monthly mortgage payment.● Eliminate private mortgage insurance.● Pay off your loan faster or free up monthly cash flow.

Cash-Out Refinance
A cash-out refinance allows you to tap into your home’s equity and receive cash at closing while replacing your current mortgage with a new one.
When this may be right for you:● You want to consolidate high-interest debt.● You’re planning major home renovations or repairs.● You’d like extra funds for education, investments, or other expenses.● You want to use your home’s equity to improve overall financial stability.
Key Benefits:● Turn home equity into cash for big expenses or goals.● Consolidate debt into one lower-interest payment.● Invest in property upgrades that can increase your home’s value.● Maintain one streamlined mortgage payment.