After you’ve established your refinancing goal, it’s time to decide which type of loan can help you get there, whether it’s to help lower your payment, get cash back or change your loan term.
Compare all home loan options.
Your refinancing options will likely be determined by a combination of factors such as what type of refinance you want to do, the remaining principal balance on your loan as compared to the value of your house (aka ‘loan-to-value ratio’), your credit score and/or current interest rates. See our current mortgage rates.
Another factor that can determine your refinancing options is the type of home loan you currently have (i.e., Conventional, FHA, VA). In some cases, there are special home refinancing programs that may be available to homeowners who already have an existing loan in one of these categories.
Select your current loan type to view your refinancing options:
Rate reduction refinance – Lower your interest rate, shorten your loan term, get rid of expensive PMI or refinance from an adjustable rate mortgage to a fixed rate mortgage.
Cash back refinance – Get the cash you need for any purpose, such as renovating your home, paying off other debts such as credit cards, or eliminate a risky Home Equity Line of Credit (HELOC).
FHA Streamline refinance – A special refinance program available only to homeowners with an existing FHA Loan that allows you to lower your interest rate or shorten your loan term without an appraisal and without having to meet other traditional underwriting guidelines (special conditions apply).
Cash back refinance - Get the cash you need for any purpose, such as renovating your home, paying off other debts such as credit cards, or eliminating a risky Home Equity Line of Credit (HELOC).
VA streamline refinance (IRRRL) – This special refinance program, also called an Interest Rate Reduction Refinance Loan (IRRRL) is available only to military Veterans with an existing VA Loan, which allows you to lower your interest rate or shorten your loan term without an appraisal and without having to meet other traditional underwriting guidelines (special VA eligibility conditions apply).
VA cash back refinance - Get the cash you need for any purpose, such as renovating your home, paying off other debts such as credit cards, or eliminating a risky Home Equity Line of Credit (HELOC) (special VA eligibility conditions apply).
Rate reduction refinance – Lower your interest rate, shorten your loan term or refinance from an adjustable rate mortgage to a fixed rate mortgage (special USDA eligibility conditions apply).
Cash back refinance - Get the cash you need for any purpose, such as renovating your home, paying off other debts such as credit cards, or eliminating a risky Home Equity Line of Credit (HELOC).
Rate reduction refinance – Lower your interest rate, shorten your loan term or refinance from an adjustable rate mortgage to a fixed rate mortgage.
Cash back refinance - Get the cash you need for any purpose, such as renovating your home, paying off other debts such as credit cards, or eliminating a risky Home Equity Line of Credit (HELOC).
At Nutter, we offer a variety of mortgage programs to suit every borrowers specific needs. When choosing which type of home refinance is best for you, one of the most important features to consider is the type of interest rate that will be used - a fixed rate or an adjustable rate.
Fixed Rate: Just as it implies, a fixed rate will stay the same for the life of your loan, which means your month-to-month mortgage payment will be consistent. Available for loan terms of either 10, 15, 20, or 30 years.
Adjustable Rate Mortgage (ARM): interest rates that remain the same for an initial period of either 1, 3, 5, 7 or 10 years; then “adjusts” each year thereafter based on market conditions.
View today’s mortgage rates and try our easy-to-use Refinance Calculator to see how much you could save by refinancing with Nutter.
Learn more about the different types of mortgage rate options.
Back Next - Refinancing with Nutter
Since 1951, we’ve helped people save hundreds, or even thousands of dollars a month, when they purchase or refinance their mortgage with Nutter.
Call 1-800-875-7334, send us an email or chat with us online and our team of non-commissioned Loan Officers will answer all your questions.
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