Refinance

Refinance Your Home

Feel like things could be better than they currently are when it comes to your home’s finances? It sounds like refinancing your home loan might be right for you!

Refinancing your home can be a strategic move to improve your financial situation, lower your monthly payments, or tap into the equity you've built over time. At Home Lending Pros LLC, we understand the importance of finding the right refinancing solution tailored to your specific goals and circumstances.

Our team of experienced home mortgage lenders is here to guide you through the refinancing process, ensuring that you make informed decisions that align with your long-term objectives. Whether you're looking to secure a lower interest rate, shorten your loan term, consolidate debt, or access funds for home improvements, we have a wide range of refinancing options available to meet your needs.

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Ready to Refinance?

Refinancing means your current loan is bought out and replaced by a new one that is better suited for you. Refinancing in North Carolina can be a way to lower your interest rate AND potentially your monthly payment right away. Or maybe you are about to begin a big remodeling project and want to pull cash out of your home. Lastly, refinancing can be a way to change the life of your loan and adjust loan insurance — by either shortening or extending it, depending on your situation.

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Conventional Loan Refinancing

You can benefit from flexible terms and competitive interest rates when you refinance your conventional loan for your home mortgage in North Carolina. From reducing your monthly payment and shortening the loan terms to consolidating debt, Home Lending Pros experienced specialists will guide you through the refinancing process.

FHA & VA Loans in North Carolina

For borrowers with lower credit scores or smaller down payments, a Federal Housing Administration (FHA) loan offers numerous benefits including:

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Streamlined Refinancing

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No Appraisal

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No Income Check

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The VA loan is available for eligible veterans or active-duty military members, providing exclusive refinancing opportunities:

  • VA Interest Rate Reduction Loan (IRRRL): This allows borrowers to refinance existing loans with minimal documentation and underwriting. VA loans will help you save money over time, should you qualify.

Jumbo Loans in North Carolina

Our home mortgage lenders offer jumbo loans — a type of loan that goes beyond the limits set by the Federal Housing Finance Agency. Should you require refinancing of interest rates in North Carolina, contact one of our experts to begin a consult.

FIXED RATE VS ADJUSTABLE RATE

When refinancing you’ll have the option to choose between fixed-rate and adjustable-rate mortgages.

Fixed-Rate Mortgages:

When you have a fixed-rate mortgage, your monthly payment remains unchanged throughout the loan terms. If you prefer consistency, this is an excellent option.

Adjustable-Rate Mortgages:

With an adjustable-rate mortgage you initially begin with a fixed rate for several years. Once that period is over the rate adjusts based on market conditions. If you plan to sell your home, this may be the best option for you.

Loan Terms

When refinancing, you will be able to choose from various loan terms. Typically these terms can range between 10-30 years and will determine the length of time you’ll make monthly payments. There are benefits to each option for refinancing a home mortgage in North Carolina:

15 Years:

Offers quicker equity buildup and lower interest over time.

30 Years:

Provides lower monthly payments, giving your more flexibility in terms of budget.

How to Know If Refinancing Is Right For You

Refinancing can be an intriguing prospect for a home mortgage in North Carolina, but several factors will decide if it’s the best option for you. To determine if refinancing is a suitable option, answer the following questions:

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Is your current interest rate 5% or greater?

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Is the equity in your home at least 15%?

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Would you live in your home for 2-3 more years after refinancing?

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Is your credit score at least 660?

If you answered yes to over half of these questions, then refinancing your interest rates or home mortgage in North Carolina may be right for you. But if you said no to a majority of these questions, refinancing may not be the right option for you at the moment. With the possibility of higher interest rates and higher costs, our home mortgage lenders will work with you and find ways to work toward refinancing options while focusing on the right fit for your home.

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Why Choose Us

  • 20+ Years of Business Experience

  • Expertise and Professionalism

  • Licensed Mortgage Lenders

  • Veteran-Owned and Operated

Michael Frazier will walk you through the various options and scenarios that an NC refinance loan can offer you — working to get you the lowest interest rate possible for the life of your new loan! Our team at Home Lending Pros is dedicated to helping you find the best solution for refinancing your home mortgage in North Carolina. Contact us today to explore your options and take the first step toward achieving your financial dreams.

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