Home Loan Refinancing
- 01. Who It's For
- 02. UW Difference
- 03. Benefits
Is Refinancing Right for You?
If you already have a home loan and want to save money, free up cash, or consolidate mortgages, a refinance could suit. Refinancing is the perfect opportunity to change your mortgage structure or program to suit your current needs.
Do I have to refinance with my current lender?
No, you can choose any lender to refinance your mortgage with (since the new loan will replace the old one).
Will I always save money refinancing?
If you’re watching the market and want to lock in a lower rate in the near future, it may be more cost effective to pay a discount point for a lower rate instead of paying for a full refinance.
How long do I have to wait to refinance after a purchase transaction?
The rule of thumb is 8-12 months, but there are exceptions. (It’s also good to check with your lender when you apply for your mortgage in the first place to see if there are any short-term penalties for refinancing within the first year.)
Do the years on my mortgage restart when I refinance?
No! When you refinance, you can start on a shorter loan term. For example, if you held a 30-year loan for three years and then refinanced, you could set the new loan up on a 27-year term.
Craig was instrumental in me and my wife buying our first home together. He was able to get us a great rate, even with my low [credit] score, and we were able to move into our new home. We are very pleased with the service and professionalism Craig provided us and will continue to work with him for all of our housing finances in the future.
We highly recommend United Wholesale Funding. We are on our second home purchase with Craig. You lose sleep buying your first home and it’s comforting to know you have the right lender looking out for your best interests. Two years later, we are on our second home and, just like the first, best rate, no fees and thousands of dollars saved!
We are so glad we trusted Craig with our refinance. We were able to take cash out with absolutely no fees! In hindsight, we wished we would have used him for our purchase. Sure enough, we had a straightforward closing with no surprises and we are truly grateful for our friends referring Craig to us.