Refinance Options

Whether you’re looking to reduce your monthly payment, shorten your loan term, access cash from your home’s equity, or switch to a more stable loan, refinancing can be a smart move—and we’re here to make it easy.

Not sure where to start? You don’t have to choose just one benefit—we often help clients achieve multiple goals at once.

Why Refinance with HomeBound Lending?

• Get Cash – Use your home’s equity to finance renovations, pay tuition, or cover major life expenses.
• Lower Your Payment – Save each month with a reduced rate or extended loan term.
• Consolidate Debt – Replace high-interest debts with one manageable mortgage payment.
• Remove PMI – If you’ve built enough equity, you may no longer need mortgage insurance.
• Shorten Your Term – Pay off your home faster and reduce total interest paid.
• Lock in a Fixed Rate – Move away from adjustable rates for long-term financial stability.
• Switch from Interest-Only – Start building equity with a fully amortized loan.
• Invest in Your Future – Use equity for a down payment on an investment or vacation property.

We also offer cash-out refinance programs for home improvements, debt consolidation, or personal use—even if you’ve faced credit or income challenges. Let’s find the right solution for you.

• Conventional
  Refinance up to 80% of your home’s value with flexible terms and competitive rates, starting at a 620 credit score.
• FHA Refinance
  Refinance up to 85% of your home’s value—even with credit scores as low as 600—with streamlined options requiring minimal documentation.
• VA Refinance
  Eligible veterans can refinance up to 100% LTV with no monthly mortgage insurance and flexible credit requirements starting at 600.
• HARP 2.0 Refinance
  Designed for underwater homeowners, HARP 2.0 allows refinancing up to 150% LTV with reduced documentation and lenient credit standards.

Understanding Credit Criteria

We believe your past shouldn’t limit your future. If you’ve had credit challenges or past derogatory marks, you may still qualify for refinancing. Call us for guidance—no judgment, just solutions.

• Conventional
  Financing up to 80% available. FICO scores as low as 620 acceptable.
• FHA
  Financing up to 85% available. FICO scores as low as 600 acceptable.
  
  FHA Streamline: No appraisal**, no employment or income verification, reduced FICO credit score requirements. Max LTV 97.75%.

• VA
  Financing up to 100% available with no monthly mortgage insurance. FICO scores as low as 600 acceptable.
  
  VA IRRRL: No appraisal**, no income verification, limited documentation required. Max LTV 100%.
• HARP 2.0
  No appraisal*, lowered loan-to-value, income, asset, and FICO credit score requirements. Max LTV 150%.

*FICO credit scores as low as 600 acceptable. **In certain instances, an appraisal or income verification may be required.

The Refinance Process: What to Expect

• Step 1: Define Your Goals
  Are you trying to save monthly, access cash, or both? Let us know what matters most so we can recommend the best refinance option for your situation.
• Step 2: Contact a Mortgage Specialist
  Call us at +1 (949) 683-0310 or inquire online to discuss your refinance goals. We’ll walk you through your options and help you understand each step before you apply.
• Step 3: Choose a Loan Program
  Once you’re ready to move forward, we’ll help you select the best program, lock in your interest rate,* and explain what to expect next—including a lock confirmation and credit toward your closing costs.
• Step 4: Submit Your Documents
  We’ll guide you through collecting documents such as income verification and bank statements. You’ll also receive initial disclosures that outline your loan terms. Once complete, we’ll schedule your appraisal to keep things moving.
• Step 5: Let Us Handle the Details
  Our team coordinates with escrow, title, and underwriting to keep your loan on track. You’ll get regular updates from your dedicated Account Manager.
• Step 6: Sign and Close
  Sign your final loan documents at your convenience—either at home or a preferred closing location. After your 3-day review period, your refinance will close, and your new financial benefits begin.

Ready to refinance?

Let Us Lending make it simple, fast, and tailored to you.

📞 Call us at 877-771-2244 to speak with a licensed loan officer, or start your application online.