FAQ at Cashout Refinance Mortgage

How important is my credit score when applying for a cashout refinance mortgage?
Very important! Depending on what your score is, you may or may not qualify for certain programs. Also, the better your score, the better rate you may qualify for.

Should I borrow more than 80% when refinancing?
Yes, but your goal should be to avoid Mortgage Insurance. So, try not to borrower more than 80% when applying for a cashout refinance mortgage loan.

Where can I view the current mortgage rates?
Simply view our mortgage calculator, or, feel free to call one of our mortgage specialists at 877-868-2503.

What is the difference between a Rate-Term Refinance and a Cashout Refinance?
A cashout refinance mortgage is when your new loan exceeds the current mortgage balance, and the cash proceeds go to you. A rate-term refinance mortgage is when the primary purpose is to lower the interest rate or to alter the loan terms (changing from an ARM to a Fixed Rate), with minimal cash-back to the borrower at closing (generally not exceeding $2,000).