Why Refinance Your Mortgage?
Refinancing can save you a lot of money, but it doesn’t make sense for every situation. If you are thinking about refinancing, we highly suggest consulting with us so we can help you choose the best possible option. Here are the most common reasons for refinancing.
Lower Monthly Payments
When you refinance to a lower interest rate, you can enjoy smaller monthly mortgage payments.
Access Ready Cash
Use your home equity for renovations, debt consolidation, investing in another property, or anything else you choose.
Shorten Your Mortgage Term
You can get a better interest rate and pay less in interest overall by shortening your mortgage term to a 10, 15, 20, or 25-year fixed.
Why Choose the Ultimate Lending Team?
If you’re looking to refinance your mortgage, we have the resources, products, and assurances to make it happen. We are a team of open, honest, and empathetic individuals invested in your success.
Exceptional Service
To successfully refinance your home, you need a team you can trust. We are honored to be the trusted lending expert for thousands of our clients.
Competitive Rates
We are constantly finding the lowest rates around and assuring that you can get the best loans. The Ultimate Lending Team is on your side!
Variety of Loan Options
We have a variety of refinancing options to ensure you get the best loan possible. The Ultimate Lending Team will get you over the goal line.
Client Reviews
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Jim and his team made buying our first home out of state such an easy and memorable experience. Life has been amazing here in Oregon and an adventure we'll always... Read More
Daniel D.2/09/2019Jim, Amy, and the rest of the Ultimate Lending Team was great about quickly answering all of our questions. Jim talked us through a variety of rate and point options... Read More
Carolyn F6/03/2021Andrew is just the best person to work with! He is creative, friendly and unbelievably prompt! He always has time for our many questions and went above and beyond to... Read More
Oliver G12/01/2021 -
It was a really easy process. Jim, Amy and Lisa were all absolute professionals and it was really pleasant to work with each of them. I felt really supported in... Read More
Rena K11/03/2021Quick communication and availability to advise me on things; Jim gave a great explanation and breakdown of costs initially which was super useful and informative. Also getting everything wrapped up... Read More
Giles E9/28/2021Nolte & his team were super helpful and communicative! They helped demystify the process and gave us a clear understanding of our options at every step along the way. We... Read More
Isabel C6/23/2021
Refinancing FAQs
Consider refinancing your mortgage if your payments are too high, your interest rate is higher than the market rate, if you wish to consolidate payments, or if you want to own your home sooner.
Request a cash-out refinance. You can use your home equity to pay off debts or student loans, improve your home value with renovations, invest in another property, or anything else you choose.
Get a rate quote and see what your monthly payment would be with a lower rate along with the closing costs. The Ultimate Lending Team will provide you with all the information you need to make a decision whether or not a refinance is right for you.
Equity naturally increases when you pay off debt balance or as a home appreciates. You can also help it increase by performing home maintenance or renovation projects.
Yes! If you wish to remove your private mortgage insurance, you generally will need at least 20% home equity. However, you can still refinance even though you’ve built up less equity and depending on the appraisal, can remove PMI. Ultimate Lending Team will help establish your best course of action to remove PMI.
Not always. Much of the time, it depends on the loan program and the form of refinancing (rate and term vs. cash out). Ultimate Lending Team will be able to explore the valuation options further during the refinancing process.
At Ultimate Lending Team, we are proud to deliver closings that are faster than the industry average, typically 2 to 3 weeks.
New guidance and technology has reduced the documentation needed for a home loan. Every homeowner’s situation is different. So once we have your loan application, we can let you know what is needed to close. Be sure you have pay stubs, bank account statements, tax returns, and proof of outstanding debts ready.
There is no cap to how many times you refinance, but many lenders require a certain period of time between assessments. This is normally the case with cash out refinancing as well.
Similar to a purchase loan, refinancing involves closing costs, but these costs differ based on the case. In certain cases, refinancing may have little to no cost, depending on how we structure your loan. Ultimate Lending Team can coach you on options and a break-even point so that you can figure out how long you need to prepare to stay in your home for refinancing to be financially beneficial.
Loans Offered
Conventional Mortgages
Keep a low rate from the beginning of your mortgage to the very end! We will help you find the lowest rates possible at a term that makes sense for you.
Jumbo Mortgages
Looking to buy high-value or luxury real estate? Our jumbo mortgages have low rates for higher valued homes.
FHA Loans
Down payment got you down? Don’t worry! We provide FHA loans with down payments as low as 3.5%.
VA Loans
We offer $0 down mortgage options available to veterans, service members, and select military spouses.
Investment Properties
We have home loan experts who specialize in investment property mortgages to get you earning a return on the investment ASAP.
Additional Options
We have loans for virtually any situation. Adjustable-rate or interest only mortgages and cash-out refinances. Contact us to see what is best for you!