MORTGAGE REFINANCING
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Mortgage Refinancing

A mortgage refinance is the replacement of an existing mortgage with another mortgage under different terms.

Mortgage refinancing can lower your monthly payments, which can add up to significant savings. Knowing your current refinance mortgage rates is important. We can keep you informed and help decide when a refinance may be best.

Reasons to Consider a Mortgage Refinance

Refinancing Can Reduce Your Monthly Mortgage Payment.

Mortgage rates are still very low. A refinance with Omega Lending can help you lower payment and possibly save you money.

Consolidate High Interest Debt with a Low Mortgage Rate.

You could pay off those higher-interest debts by refinancing to a lower rate. Even with less-than-perfect credit, we can help you lower your monthly payment and pay off your higher-interest debt.

Pay Off Your Mortgage Faster.

The shorter the term on your mortgage, the lower your mortgage rate. Did you know that you may be able to take advantage of today’s competitive rates by shortening the term of your loan?

When should you refinance your mortgage?

We are often asked by our clients, “when should I consider refinancing?” The answer to the question is a function of two factors: timing and math. When mortgage rates drop below your current rate, that is a good time to explore refinancing. If you’re seeing that rates are low, it doesn’t hurt to have a conversation with a mortgage professional to crunch the numbers. At the very least, this will get you the information you need to make an informed decision about whether or not you should refinance your mortgage.

Your Refinancing Loan Options

FHA Loans: Lower those rising mortgage payments with a government-insured fixed-rate loan

Fixed Rate Mortgage: Find stability with a traditional fixed loan option.

Adjustable Rate Mortgage: Pay less over a traditional fixed rate mortgage for the first years of your loan with a 5 or 7 year ARM. Get the lowest rates available and save money.

VA Home Loan: Refinance up to 100% of your home or buy a new home with no down payment and never pay monthly insurance (PMI)!