Refinancing
Two kinds of refinance, two different reasons.
A refinance replaces your existing mortgage with a new one. What you are trying to accomplish determines which structure is worth reviewing.
Cash-out refinance
A cash-out refinance replaces your existing mortgage with a new mortgage for a larger amount, with the difference available to you as cash. Homeowners consider it for consolidating obligations, funding a project or acquiring another property.
Rate-and-term refinance
A rate-and-term refinance replaces your existing mortgage with a new one that changes the interest rate, the loan term or both, without taking additional cash out.
Whether either structure makes sense depends on your existing loan, your goals and applicable underwriting and program requirements. Keon will walk through the trade-offs without promising an outcome.
What to review together
Your current loan, how long you expect to hold the property, and what you want the refinance to accomplish. That is enough to have a useful conversation.
Program availability, terms and qualification depend on individual circumstances and are subject to applicable underwriting and program requirements. Speak with Keon to determine which programs may be available to you.
Next step
Your financial situation is unique. Your mortgage strategy should be too.
Talk with Keon about what you're trying to accomplish and explore the mortgage options that may fit your situation.