You’ve been putting money into your home for years.
Now ask for some of it back.

Our RefiNow Loan Program can help:

  • Reduce your monthly payments

  • Access lower cost ways to pay for education

  • Get money to fix up your home

  • Pay off your mortgage faster

  • Consolidate other higher-cost debt

refinow-emm-loans-refinance.png

It's as Easy as 1, 2, 3!

apply-icon-refinow-loan.png

2

Apply for your RefiNow Loan.

saving-icon-refinow-loan.png

3

Start saving money!

Now with expanded criteria and reduced closing costs—making it even easier to borrow! 

What Is a Refinance Loan?

Refinancing occurs when a homeowner gets a new mortgage loan to replace their current one on a given property. Most people refinance to lower their interest rate and reduce their mortgage payments, often saving considerable sums over the life of the loan. Though that isn’t the only reason homeowner’s refinance. Some may switch to a shorter duration mortgage (from a 30 year to a 15 year for example) to pay off their house earlier or they could refinance to cash out some of the equity that has built up in the house.

What This Program Is:

A Fannie Mae (FNMA) sponsored program for existing FNMA borrowers living in single family homes or condos. To qualify you: 

  • Must have an income level that is at or below 80% of the area median income. 

  • Must have your existing loan for longer than 12 months 

  • Have no missed payments in the last six months or no more than one in the last year and have resolved missed payments due to forbearance. 

  • Can have a Debt to Income Ratio  as high as 65%. 

  • Can have a FICO Score as low as 620

  • Can have a loan to value ratio (LTV – ratio of the amount you owe to the value of your property) as high as 97%.

  • If an appraisal is involved, up to $500 can be used to offset the cost of the appraisal.

 

How Do You Know If You Are Eligible?

The best way to find this out is to talk to one of our loan advisors. They can look up your loan and determine if you qualify. Even if you don’t, they might be able to qualify you for another type of loan. 

If you want to get started on your own, there are a few tools that will help.

To check if your loan is currently owned by Fannie Mae, click here

To see how your income level compares to the median for the area in which you live, click here.

Personalized Help

The Loan Officer will also explain all the steps–from getting started, to locking in your low rate, to closing your loan.  Because we are a direct lender, if you have any questions during the loan process, you will have one direct number enabling you to get quick answers straight from the source.