Mortgage Refinancing for Savings for All Types of Loans
When it comes to home financing, it’s important to know that you always have options available. Mortgage refinancing can be a pleasant process with the help of the qualified professionals at AIM Financial. We serve clients in Middleville, Grand Rapids, Wyoming, Sparta, Caledonia, Kentwood, and surrounding Michigan. We will explore every possible option to help you find a refinancing solution with competitive rates and terms that work for your needs. Contact us to schedule a consultation and get a quote for mortgage refinancing.
Refinancing Solutions for All
The process of refinancing allows you to take out a new loan to pay off your existing mortgage toward the end goal of saving money on monthly premiums or securing more agreeable terms. The type of refinancing that makes sense for you depends partly on the type of mortgage you currently have and partly on your long-term financial goals as a homeowner.
We offer refinancing solutions for clients with conventional (privately funded and insured) and non-conventional (government-backed) mortgages.
Non-Conventional Refinancing Solutions
Some of our non-conventional refinancing options include:
- FHA Streamline Refinancing: FHA Streamline is a no hassle refinancing solution for clients with an existing loan insured through the Federal Housing Administration. FHA Streamline does not require a new home appraisal and has minimal underwriting requirements compared with traditional refinancing.
- VA IRRRL Refinancing: The U.S. Department of Veterans Affairs offers a program called the Interest Rate Reduction Refinancing Loan (IRRRL). This program allows veterans, servicemembers and certain family members of military personnel to get better rates or terms using their existing entitlements. Some borrowers use their VA IRRRL to transition from a variable to a fixed interest rate.
Conventional Refinancing Solutions
Our conventional refinancing options include:
- Conforming Loan Refinancing: If you have a conforming loan that is not insured through a government entity and is less than $424,100, this is a competitive refinancing option. Basic conforming loan refinancing is available for credit score of 620 or more who meet certain other qualifications. The Home Affordable Refinance Program (HARP), is a specific conforming refinancing option for those who have minimal equity built up in their existing homes. Whatever your conforming refinance needs, AIM Financial can help.
- Jumbo Loan Refinancing: For non-conventional loans that exceed $424,100, jumbo mortgage refinancing is available. Many jumbo loans are originated with variable rates that can be very costly over time. By refinancing with a fixed rate mortgage, clients can save more money over time.
See if You Could Be Saving
Our mortgage professionals can help you with a fast quote and a simplified mortgage refinancing process. If you live in Middleville, Grand Rapids, Wyoming, Sparta, Caledonia, Kentwood, or nearby Michigan neighborhoods, contact us and schedule a consultation today.