8340 Mission Rd, Ste 240, Prairie Village, KS 66206

Refinance

Why Refinance?

There are many reasons why refinancing your mortgage may be of benefit…


Refinance benefits:

  • Lower your rate and lower payment: Refinance rates are still near historic lows. Refinancing to a lower rate can lower your payment and save you money.
  • Consolidate debt: Combine high interest debt into a single monthly payment that features a low fixed rate.
  • Take cash-out from your home: If you need cash for home improvements, debt consolidation or for other purposes, a cash-out refinance is a great loan option.
  • Shorten your term: Long term savings can be substantial when you refinance into a loan with a shorter term (typically 10yrs or 15yrs).
  • Refinance out of an ARM (adjustable rate mortgage): If your current loan has an adjustable rate, you can refinance into a low fixed rate that will not change.
  • Eliminate your PMI: Refinance options that allow you to get rid of your monthly PMI payment once and for all.

 

Refinance FAQ:

Our Streamline refinance programs, coupled with our excellent staff of processors, allow us to close most refinances in short order.  Our underwriters are fast and responsive and make common sense lending decisions. Furthermore, with my almost decade of experience I can see things coming with your loan before they even happen, allowing me and my team to cut days and sometimes weeks off of your closing!

Simply call/text me at 913-735-5363 or email me at mbaker@fountainmortgage.com to see how quickly we can get your refinance closed.

Some loan programs require a monthly PMI (Private Mortgage Insurance) payment if you are above 80% loan-to-value, but we have many loan options that may allow you to refinance without having to pay a monthly PMI payment.

Call/text me at 913-735-5363 or email me at mbaker@fountainmortgage.com to find out exactly what programs you are eligible for.

One of the great benefits of refinancing your mortgage is that you may be able to payoff high-interest credit cards (or other debts). By rolling these debts into your mortgage, you will have a single payment that can save you hundreds of dollars each month.

Streamline refinance programs are wonderful and they exist for all major loan programs (Conventional, FHA and VA). For example: If you are currently in a VA loan, VA’s streamline refinance (the “Interest Rate Reduction Loan”, commonly referred to as “IRRRL”) makes your refinance super easy as most borrowers do not have to document income, nor assets, and there is no appraisal required. Further, Streamline refinances can typically close very quickly.

These Streamline refinance programs exist for Conventional and FHA loans as well and offer many benefits.

Call/text me at 913-735-5363 to find out exactly which Streamline programs you may be eligible for.

Regardless of the type of mortgage you are currently in (i.e., Conventional, VA or FHA), there are programs that may allow you to refinance into a better loan with a lower rate and lower payment. For example: The HARP program is for borrowers in Conventional mortgages. HARP, in some instances, will allow you to refinance regardless of how underwater or upside-down you are.

Likewise there are Streamline refinances for both the VA and FHA loans that allow you to refinance without the need for an appraisal as long as you are already in a VA or FHA loan.

Click the “Rate Quote” button (above) to find out exactly what programs you are eligible for.

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