Refinancing
Refinance Your Mortgage
Lower your monthly payment, pay off high-interest debt, or lock in a low interest rate.
Refinancing is a great way to make your mortgage work for you, and our dedicated team of refinancing experts can help you find exactly the right loan. Our hassle-free application process gets you the approval you need when you need it. And our refinancing experts are standing by to make sure everything goes smoothly -- from application to closing.
At Insight Loans, we understand that your mortgage needs change over time. You shouldn't be saddled with a sky-high interest rate or a payment you can't afford when refinancing is an option.
Refinance Programs
FHA
FHA loans are mortgage loans that are insured by the Federal Housing Administration (FHA). The federal government insures loans for FHA-approved lenders in order to reduce their risk of loss if a borrower defaults on their mortgage payments.
FHA refinance programs allow for a lot of flexibility. Some of the benefits include:
- Relaxed credit and income requirements
- Higher loan-to-value caps
- No appraisal needed if you are currently in a FHA program
If you have a less than excellent credit profile and your loan-to-value is high then FHA financing may be for you.
VA
VA loans are mortgage loans designed for service members, veterans, and eligible surviving spouses.
VA refinance programs offer many benefits:
- Relaxed credit and income requirements
- Higher loan-to-value caps
- 100% cash out allowed
- Mortgage insurance is not required
- No appraisal needed if you are currently in a VA program
If you are a service member, veteran or eligible surviving spouse then VA financing may be for you.
USDA
USDA loans are mortgage loans designed to assist low to moderate income rural homebuyers achieve home ownership.
Benefits of USDA refinance programs include:
- Relaxed credit requirements
- Higher loan-to-value caps
- Minimal mortgage insurance
- No appraisal is needed if you are currently in a USDA program
If you are currently in a USDA program then USDA refinancing may be for you.
Conventional
Conventional loans are designed for individuals with excellent credit profiles. These programs have stricter credit and income qualifications.
Benefits of conventional refinancing include:
- Mortgage insurance not required with 20% equity
- Mortgage insurance will end once 20% equity is reached
- Mortgage insurance is usually less when compared with FHA financing
- No appraisal needed if you meet certain criteria
If you have an excellent credit profile and are in a position to make a larger down payment then conventional financing may be for you.
Jumbo
Jumbo programs are designed for those seeking financing that extends above the county loan limits set forth by Fannie Mae and Freddie Mac. If you are not located in a high cost area as determined by Fannie Mae and Freddie Mac and are looking for refinancing in excess of the conforming loan limit, then a jumbo program may be for you.