Refinancing your current home loan could be a great option if you want to . . .

Lower Your Mortgage Interest Rate

Whether mortgage rates have fallen, or your credit/debt situation has improved - the opportunity to lower your mortgage interest rate could provide a variety of advantages for homeowners.

Leverage Your Home Equity or Consolidate Debt

You may be able to pay off other high-interest rate debts and reduce the overall total monthly payments with a cash-out refinance.

Convert an Adjustable-Rate Mortgage (ARM) Into a Fixed-Rate Mortgage

As mortgage interest rates fluctuate regularly, now may be a great time to lock-in a rate lower than you currently have.

Cancel Mortgage Insurance

Mortgage insurance is often required for low downpayment and 100% financing programs — many for the life of the loan. However, once you have reached 20% equity in your home, you have the opportunity to refinance without it.

Conventional Loan Program

Home Loan Options

If you’re ready to refinance and have good credit and a low debt-to-income (DTI) ratio, a Conventional Loan Program is a good option to explore.

Program Highlights
  • Allows Options For Low Down Payments
  • PMI Can Be Removed
  • No Private Mortgage Insurance (PMI) Option
  • Flexible Property Options

FHA Loan Program

Home Loan Options

If you’re looking to refinance but may not qualify for a conventional loan, the FHA Loan Program may be a good option for you.

Program Highlights
  • Generally requires a lower minimum down payment
  • Streamlined and cash-out refinancing
  • Generally requires lower total cash to close
  • Purchase and rehab financing

Jumbo Loan Program

Home Loan Options

If you’re ready to refinance your property and it falls outside of conforming mortgage purchase limits, the Jumbo Loan Program is an option to explore.

Program Highlights
  • Down Payment as low as 10%
  • Typically between 6 and 12 months reserve required
  • Loan amounts up to $3,000,000
  • Primary residence or second homes eligible

VA Loan Program

Home Loan Options

The VA Loan Program benefit doesn’t run out, which means you can use it for the first time or any time after that. So if you’re looking to refinance and you meet the established service requirements, this could be a great program to explore.

Program Highlights
  • 100% financing/no down payment
  • Seller can pay for closing costs/any required repairs
  • Little to no cash reserve needed
  • No monthly Private Mortgage Insurance (PMI)

USDA Loan Program

Home Loan Options

If your home is in rural or suburban America and you’re looking to refinance, the USDA Loan Program could be for you. It’s designed for those looking for an alternative to traditional lending options.

Program Highlights
  • No down payment required / 100% financing
  • Not limited to first-time homebuyers
  • 15-year & 30-year fixed rate terms
  • Guaranteed by the USDA

Nucasa Mortgage is not affiliated with or acting on behalf of or at the direction of FHA, VA, USDA, the Federal or State Government.

USDA uses two fees: an upfront guarantee fee that is paid by the applicant once when you close on the loan, and an annual fee, which gets lumped into your monthly mortgage payment. The upfront fee is 1 percent of the total financed amount, while the annual fee is 0.35 percent of the loan's current balance. Income and property eligibility requirements apply; visit complete details.

Borrower pays only the interest on the mortgage through monthly payments for the fixed term of the loan. Borrowers are required to pay off the principal of the loan. Borrowers are also required to make a one-time balloon payment due 6 months from the date of closing.

Looking for another type of loan?

Learn more about what financing options we have available