Phone: (240) 670-5090       •       Fax : (443) 725-0531

Serving all of Maryland, Washington D.C. & Virginia
Email : jordanteam@firsthome.com       •       NMLS ID: 143670

12501 Prosperity Drive Suite 310, Silver Spring, MD 20904

Refinance

A refinance is a possibility to improve your current mortgage.  It means getting a new loan, with new terms, and using that money to pay off your old loan. We can help explain why refinancing might be the right option for you and compare the pros and cons.

Reasons to Refinance

  • Lower payments

    Refinancing with a lower interest rate could result in lower mortgage payments. This may provide extra money each month for homeowners to save, or spend, however they choose.

  • Eliminate Mortgage Insurance

    Refinancing into a loan that does not require monthly mortgage insurance payments can save hundreds of dollars each month.  Loan options are available that do not require mortgage insurance to be paid, even if you do not have 20% equity.

  • Shorten your payment term

    If you want to build equity faster, or pay off your mortgage in less time, you can refinance to a shorter loan term. This may result in a slightly higher monthly payment, but you may also save money by paying less toward interest.

  • Convert your home’s equity into cash

    As a homeowner, you make payments to increase your equity, or value of ownership. Refinancing allows you to turn that equity into cash – referred to as “cash-out” refinancing.   You are free to access and spend the money without tax penalty.
    *Consult a tax professional for more information.

btn-contactus with your questions or to set up a free mortgage consultation.

Start the Process

We try to make it as easy as possible for you, so if you prefer to submit your information online, this online form below should take you approximately 10 minutes to complete, and your progress will be saved as you complete each step.

Please note that your session will timeout after 15 minutes of inactivity.

Please Have These Items Ready

1. Current and previous addresses (2 years)
2. Subject property information (property type, annual property taxes, annual home owners insurance, annual HOA fees)
3. Current and previous employment information and dates including monthly salary for the previous 2 years
4. Bank account balances
5. Current monthly housing expenses such as rent and mortgage payments
6. Address and market value information for any properties you own, including taxes & insurance & additional fees
7. Sources and income amounts for all borrowers.

Click HERE to submit your information online.