Refinance
and get the cash you need.
Refinancing is replacing your existing mortgage with a new and improved one. There are several types of refinance loans, each with its own benefits. And there are several good reasons to refinance a mortgage. When you refinance to a lower interest rate, you can reduce your monthly payments and improve your cash flow. With a debt consolidation refi, you can combine credit cards, auto loans, and other debt into one low monthly payment. And a cash-out refinance lets you use the equity in your home to get cash to pay for renovations, college tuition, or even that vacation you’ve always wanted.
It may sound complicated, but refinancing is an easy process if you have the right help. Our mortgage specialists will work with you to find the right loan for your situation. There’s no application fee and no obligation.
Get Cash Out
With a cash-out refinance, you use the equity you’ve built up in your home to get cash for other expenses. Tapping into your home’s equity is an ideal way to get extra money, and the beauty of a cash-out refi is you can use the cash for anything you choose. Learn more about our cash-out refinance
Bill Consolidation
A debt consolidation refinance lets you roll your credit cards, car loans, medical bills, and other debt into one convenient monthly payment. And mortgages typically offer much lower interest rates than other loans, so this could result in lower monthly payments. Learn more about our debt consolidation refinance
Lower Payments
If you qualify to refinance into a loan with a lower rate or better terms, you may be able to reduce your payments and/or pay down your principle faster. You may even save hundreds of dollars each month and thousands over the life of your loan. Learn more.
RefiNow™ & Refi Possible℠
If you’ve been looking to make your mortgage work better for you, now’s your time. Homeowners can now explore two refinancing programs that can help you benefit from a better rate, more manageable payment, and more savings. Learn more about RefiNow™ and Refi Possible℠.
What happens during the refinance process?
When you refinance your mortgage with Embrace, a dedicated mortgage specialist will walk you through three simple steps: apply, get approved, close. Our streamlined process really can be that easy. Get in touch today, and you’ll be assigned to one of our loan officers, all of whom are experts in the field. And you can rest assured that as a lender with exceptional customer ratings on Google, Zillow, and SocialSurvey, we pay attention to every detail from Day One to closing.
Everyone’s situation is unique, and no matter what your reason for refinancing is, our mortgage specialists will help find the loan that’s right for you. Simply call or submit our no-obligation form to learn more about how refinancing with Embrace can benefit you today. Or, if you’re ready to apply, we also offer an online application that you can fill out from the convenience of your own home.
Mortgage News & Views
30-Year Fixed-Rate Refinance Mortgage Example:
The payment on a $225,000 30-year fixed-rate cash out refinance loan at 3.250% with a 70% loan-to-value (LTV) is $979.21 with 2 points due at closing. The Annual Percentage Rate (APR) is 3.520%. This assumes a FICO score of at least 690. Payment does not include taxes and insurance premiums, which will result in a higher monthly payment. Interest rates and annual percentage rates (APRs) are based on current market rates and are subject to change without notice. Rates offered may be subject to pricing add-ons related to property type, loan amount, LTV, credit score, and other variables. Mortgage insurance may be required for LTV >80%. If mortgage insurance is required, the mortgage insurance may increase the APR and the monthly payment. Stated rate may change or not be available at the time of loan commitment or lock-in.
30-Year Fixed-Rate Purchase Mortgage Example:
The payment on a $225,000 30-year fixed-rate purchase loan at 3.125% with a 70% loan-to-value (LTV) is $963.84 with 2 points due at closing. The Annual Percentage Rate (APR) is 3.390%. This assumes a FICO score of at least 710. Payment does not include taxes and insurance premiums, which will result in a higher monthly payment. Interest rates and annual percentage rates (APRs) are based on current market rates and are subject to change without notice. Rates offered may be subject to pricing add-ons related to property type, loan amount, LTV, credit score, and other variables. Mortgage insurance may be required for LTV >80%. If mortgage insurance is required, the mortgage insurance may increase the APR and the monthly payment. Stated rate may change or not be available at the time of loan commitment or lock-in.
