Obviously the key reason to refinance your home is to get the lowest possible interest rate and monthly payment on your home, so you have more expendable income for the other things you want and need in life. In today’s market, it’s certainly worth checking into the advantages of refinancing your home. We are happy to help you find the products and rates most suited to your situation. We’re just a call away and glad to answer your any questions you might have about the process.

It is smart to take advantage of the lower mortgage rates available today and look at changing the terms of your current mortgage loan. These are the main areas that impact and can lower your monthly payments. Our team of mortgage professionals is here to help you understand the various mortgage products and terms for your best outcomes for today and far into the future.

The loan products that are most popular in the refinance process are:

FHA Loan | Federal Housing Administration
Refinancing is easier than some other types of loans and it is a fixed rate loan. There is a cap on how much can be borrowed and processing can be a bit more strict.

VA Loan | US Department of Veterans Affairs (VA)
This loan is for qualified military veterans and offers lower interest rates than can be found in other loan programs.

Conventional Loan | 30-Year Fixed Loan
Even today, the most common type home loan is the 30-Year Fixed Loan.
The borrower has 30 years to pay back the mortgage at a fixed interest rate and payments are the same amount over throughout the life of the loan.

ARM | Adjustable Rate Mortgage Loan
Adjustable rate mortgages offer a 5 or 7-year term, with a substantially lower rate for the first 5 or 7 years of the loan. Adjustable-rate mortgages offer lower interest rates and mortgage payments at first – as the borrower assumes the risk of changing interest rates.

Ramon Espinoza Home Loans is your trusted source for refinance and home purchases.

All products and rates subject to change without notice.