Home Refinancing

In technical terms, a mortgage refinance represents the restructuring of an existing loan’s terms to different parameters. However, in a realistic sense, a mortgage refinance can mean new possibilities and greater flexibility for homeowners who have an existing loan.

Reasons to refinance.


By refinancing your mortgage, you may enjoy lower monthly payments, which can free up funds for other investments or purchases. However, finding the best conditions for a mortgage refinance can be tricky, so it helps to partner with a lender that has experience gauging the market and connecting homeowners with more attractive loan terms.

Whether your original mortgage was a jumbo loan or real estate investor loan, you can turn to Guaranteed Financial for a mortgage refinance and take advantage of favorable terms and our wealth of home financing knowledge.

Homeowners most often turn to a mortgage refinance as a way to save money on their monthly payments. This type of financial action can reduce interest rates, thereby successfully scaling back what borrowers pay each month and over the life of the loan.

That can provide the breathing room many families need to manage the rest of their monthly obligations, and even allow them to take on financial investments or projects that they may not have otherwise considered.

If you find that you need more cash on hand for other important expenses, you can draw from your home’s equity with a refinance. On the other hand, if you want to eliminate your monthly mortgage insurance, you can use a refinance to pay more money into your loan.

At Guaranteed Financial, we can provide all these options and more, giving you a number of opportunities to benefit from a mortgage refinance.​

The options available


Though a traditional mortgage refinances – one in which your interest rates are lowered – is the most common, there are several different types of refinances that you might want to consider.

A cash-out refinance, for instance, allows you to convert a portion of your home’s equity into cash, which can provide money for an emergency or discretionary spending. The opposite, a cash-in refinance, occurs when you pay more into their loan at the closing table, potentially increasing your equity enough to eliminate costly mortgage insurance payments.

And by combining a mortgage refinance with a home improvement loan, you may be able to secure the money you need to renovate your home without incurring a separate monthly payment. Investors and borrowers with foreign national loans are just some of the other consumers who may benefit from a mortgage refinance with Guaranteed Financial.

Why Guaranteed Financial?


Aside from its attractive terms – low-interest rates, affordable down payments and the potential for reduced closing costs – a mortgage refinance from Guaranteed Financial appeals to homeowners for a variety of reasons.​

Homeowners and investors appreciate our hands-on approach, which helps simplify a potentially complicated process. Our consultants sit down with borrowers and work on a one-to-one level to determine the best mortgage product and actions for each individual customer.

Our consultants are also sensitive to clients’ schedules and needs, working to offer flexible closing times and taking the lead on important tasks such as appraisal schedule. With cutting-edge technology and practices at its fingertips, we are equipped to offer consumers a unique mortgage refinance experience.​

It’s this type of commitment to customer service and quality lending products that have made Guaranteed Financial a leading provider of mortgage solutions, whether you are in the market for foreign national loans, jumbo loans, real estate investor loans or a mortgage refinance.


Lower Your Monthly Payment


Any time your rate is reduced at the same term and principal amount, it has the potential to lower your monthly payment. Your Guaranteed Financial Loan Originator can provide you with a closing cost estimate to help you weigh the pros and cons of refinancing your mortgage.

Refinancing to a lower rate:

Refinancing to a lower rate may decrease your interest costs and monthly obligation. A good rule of thumb is to look at the percentage change in your loan payment. A $100 savings on a $1,000 is a 10% savings in payment. That same $100 savings off of a $1,500 payment is only a 6.7% savings.

Change the term of your loan:

Refinancing a 15 year mortgage to a 30 year results in a lower monthly payment because your payments are spread over a longer period of time. However, you will pay more in interest during that longer term. If your goal is spending less money overall, you may want to shorten a 30 year mortgage to 20 or 15 years. The monthly payments will be higher, but you will pay less interest over the life of the loan.

Combining Other Debts:

Refinancing also gives you the option of combining credit debt, car loans, etc. into your mortgage. While not always recommended, it can provide some much-needed relief for homeowners struggling with their total monthly payments. The same guidelines apply that do in a Cash Out refinance in that most lenders limit the loan to value ratio of these types of loans to 80%. If you feel a debt consolidation is right for you, contact one of our Mortgage Loan Consultants for a more comprehensive explanation of all of our programs and options.