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Refinance

Mortgage refinance options can help your loan fit your current goals. Therefore, we’ll compare the potential benefits and costs.

Mortgage Refinance Options in Maryland, DC and Virginia

Mortgage refinance options can help homeowners adjust their financing as their needs change. For example, a refinance may lower a payment, shorten the repayment term, remove mortgage insurance or provide access to home equity.

However, a lower rate does not automatically make refinancing worthwhile. We compare the new payment, closing costs, break-even period and long-term interest before recommending a strategy. In addition, homeowners making a large principal payment may want to review our mortgage recast versus refinancing guide. Together, we can determine which mortgage refinance options best support your goals.

Reasons to Refinance

Lower Payments

A lower rate may reduce your payment and borrowing costs. However, savings depend on the new terms, closing costs and how long you keep the loan. Therefore, we’ll compare the estimated break-even period.

Eliminate Mortgage Insurance

A refinance may eliminate monthly mortgage insurance if your loan and equity qualify. As a result, your payment could decrease. However, savings depend on your specific loan scenario.

Additional Refinance Options

Shorten Your Payment Term

A shorter term may help you repay the mortgage sooner and reduce total interest. However, your payment may increase. Therefore, we’ll compare the options with you.

Convert Your Home's Equity Into Cash

A cash-out refinance may provide funds for improvements, debt consolidation or other goals. Still, the amount depends on your equity, terms and costs. We’ll help you evaluate the overall strategy.

Older homeowners reviewing mortgage refinance options with a loan professional

Start the Process

Start Your Refinance Review

To get started online, complete the form below. It usually takes about 10 minutes, and your progress saves as you complete each step.

Not sure whether refinancing makes sense? First, call (240) 670-5090 or email CJMT@mainstreethl.com. Then, we can review your goals and help you decide whether a refinance is worth exploring. As a result, you can evaluate the option before completing the application.

Please note: After the form redirects you, the application session will time out after 15 minutes of inactivity.

Please Have These Items Ready

  1. Current and previous addresses covering 2 years
  2. Subject-property details, including property type, annual taxes, homeowners insurance and HOA fees
  3. Current and previous employment dates and monthly income covering 2 years
  4. Bank account balances
  5. Current monthly housing expenses such as rent and mortgage payments
  6. Address and estimated value for each property you own, including taxes, insurance and other fees
  7. Income sources and amounts for every borrower.
Refi Only
What is your primary reason for refinancing? *
This is for: *
Do you have a specific loan term that you are interested in? *
Do you have plans for any major purchases or expenses in the next 1-5 years, or 6-10 years? *
Name
Name
First
Last

Finally, after you submit the form, you will be redirected to complete our Loan Pre-Qualification application.