WHAT IS A REFINANCE?

A New Mortgage to Replace Your Current One

Get a new loan to pay off your existing mortgage loan debt through a refinancing loan. As a result of refinancing, you may wind up with a lower interest rate than the rate you had been paying, which would lower your monthly payment*.

Get Started with Refinancing Your Home →

*The total finance charges may be higher over the life of the loan.

Happy parents with daughter on front porch of their home

PROS AND CONS

Should I Refinance?

Most people refinance to save money on their monthly payment*. Others refinance to take equity out of their home to pay for something big or to change the term (number of years) of their mortgage. We can help determine if refinancing makes sense for your individual circumstances.

Talk to a Loan Officer About Refinancing

*The total finance charges may be higher over the life of the loan.

Couple doing research on refinancing in their living room

Our Process

One of our experienced loan officers will help you decide what type of loan best suits your unique situation. The loan officer will discuss the loan process and paperwork needed to secure the loan.

Next, your loan will move into processing. One of our loan analysts will make sure all the paperwork provided is thorough and correct for the loan program.

Next, your loan proceeds to underwriting for a final decision on approving your home loan. Our in-house underwriting team will review all of your documents to ensure all conditions are satisfied. If we need something else, your loan analyst or loan officer will reach out.

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Want to learn more about the home-buying process?

It’s important to understand the facts and the myths about the home-buying process and realize that there is no one-size-fits-all approach to getting approved for a mortgage loan.

Get the Guide

 

radius is here to help you

We're licensed in many states across the United States, but loan programs vary from state to state; so talking to a loan officer licensed in your planned state of purchase is a must.

 

Our Loan Officers

What our customers are saying

“

Everything went smoothly and according to plan. My questions were answered in a timely manner and in language I could understand.

Valarie O
Refinance Customer
“

Great staff, always as helpful as they can be and really lovely to work with. Service feels very personal.

Suzanne M
Refinance Customer
“

I found everyone to be very responsive and helpful. Everyone took the time to answer all our questions and concerns.

Rachel A
Purchase Customer

Refinance Loan FAQs

What does refinancing a mortgage mean?

Refinancing a mortgage means revising and replacing the original mortgage terms to make favorable changes to the interest rate, payment schedule, or other terms outlined in the contract.

When should you not refinance?

You should not refinance if you have a long break-even period, if you will spend more money in the long run, if your interest rate is already low, or if you cannot afford the closing costs.

Does refinancing hurt your credit?

Although taking on new debt usually causes your score to dip, the impact of refinancing is minimal. This is because you are replacing an existing loan with another that is roughly the same amount.

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