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A happy couple throwing papers in the air after discovering mortgage refinance possibilities.

What Is Mortgage Refinancing?

One of the best ways to lower monthly payments and/or get money out of the equity in your home is with a mortgage refinance. Beacon Lending offers many options for homeowners to take advantage of the equity in their home through a mortgage refinance. Have a look at some refinancing options below.

RefiNow from Fannie Mae

New in 2021 is a program from Fannie Mae named RefiNow. This program is intended to make it easier for certain lower income homeowners to refinance their home loan. This program could be just what borrowers need to help them save on their monthly mortgage payment. You may be wondering what the specific requirements are and if you meet those requirements. To view more information please view our RefiNow post. If you would like to consult with Beacon Lending about these programs then choose an option below.

Lower Rate Mortgage Refinance

This mortgage refinance is designed to lower your interest rate. For example, if you are at a 5% mortgage for 30 years, your payment is $1342.05. If you lowered it to 3.5%, it would go down to $1122.61

Term Home Refinance

This refinance is designed if you want to lower or increase your loan term. These usually are in increments of 15, 20, and 30 year fixes. You might decide you want to pay your mortgage off early, and that might incline you to pursue a 15-year fix versus a 30-year fix. You will save thousands upon thousands choosing this option

Cash Out Refinance

This refinance is designed to either take cash out of your home through the existing equity, or to consolidate high-interest rate credit cards, or maybe to do some home improvements.

Reverse Mortgage Refinance

This refinance utilizes the equity in your home through the bank, as a way for you to receive monthly income, and to never have to make a mortgage payment again. You need to be at least 62 years of age for this mortgage, and you will be required to go through a class to see a counsellor so you are 100% properly advised in how this program works. View more information on Reverse Mortgages.

FHA Streamline Refinance

This is a no closing cost refinance that pays off your existing FHA loan. A great loan, in a low interest rate environment.

HARP 2.0 Refinance

This refinance is designed for homeowners who may have not been able to refinance in the last couple of years, due to low or negative equity. An amazing program that has helped millions of homeowners nationwide.  View additional HARP 2.0 Refinance information.

Young couple sitting on the floor visualizing a home remodel with an FHA 203K mortgage refinancing option.

FHA 203K Refinance

The FHA 203K Refinance is designed to give you additional money to rehab your home, based upon the future appraised value of the project at hand. A great way to lock in a low interest rate, and bundled it with the existing mortgage, all under one loan.

VA Streamline Refinance

Similar to the FHA Streamline Refinance. Little to no closing costs, and works in a low interest rate environment. No appraisal is needed. No income verification is needed either.

The above are just a couple of the many refinance programs we offer. We also offer USDA, Jumbo, 1031 Exchanges, Investment Properties, and Construction Loans.

What exactly is mortgage refinancing and how does it work?  Click here for more information.

Brian Quigley Profile Photo
Brian Quigley
Hello, my name is Brian Quigley and I have been a mortgage broker in Denver, CO since 2003. I have been fortunate enough to choose this very rewarding mortgage broker career and help thousands of borrowers over the years.

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