Refinance Your Mortgage
RoundPoint Mortgage Company recognizes that every customer and every loan scenario is unique which is why we offer a wide variety of loan programs and financing options to meet your needs. RoundPoint Mortgage Company refinance professionals can help you select the most desirable rates and terms that best suit your needs. Whether you are looking to extract cash from your home's equity or simply improve on the terms of your loan by refinancing, our seasoned loan professionals can tailor a solution that will be best for you.
Refinance Explanations:
Rate and Term Refinance
A rate-and-term refinance pays off one or more mortgage loans with the proceeds from a new loan, using the same property as collateral. This type of loan allows you to take advantage of more favorable loan terms such as lower interest rates or shortening the term of your mortgage to build equity faster. Many times any costs involved with refinancing your mortgage can be included in the transaction so there is no out of pocket cost to you.
For example, if you have an ARM that is set to adjust in a few months, you can refinance into a fixed-rate mortgage. Or if you have a fixed-rate loan and you know you'll move in two or three years, you could refinance into a lower-rate 3/1 ARM.
Cash-out Refinance
A cash-out refinance pays off one or more mortgage loans and also provides you with additional cash above the amount needed to pay off your existing mortgage and pay for any closing costs associated with obtaining a new loan. You may use the additional cash for any purpose such as home improvements, bill consolidation, education expenses, purchase of big ticket items, or paying for a vacation.