Refinancing · Change the loan you have
Make your mortgage fit the life you have now.
A refinance replaces your mortgage with a new one: to change your rate or your payment, move from an adjustable rate to a fixed one, shorten your loan or remove mortgage insurance. Your loan officer shows the costs next to the savings, so you decide with real numbers.
See your break-even point, and a straight answer if refinancing doesn’t add up.
A straight answer on whether it’s worth it
You see your closing costs next to your savings and the break-even point, and you hear it plainly when refinancing doesn’t add up.
Change what isn’t working
Move from an adjustable rate to a fixed one, change your loan length, or take a co-borrower off the loan.
Leave mortgage insurance behind
If your home has gained value or you’ve paid down your balance, a refinance may be a way to drop mortgage insurance.
Streamlined options for FHA and VA
If you already have an FHA or VA loan, a streamlined refinance can mean less paperwork.
What happens after you press the button.
Your loan officer reaches out
Larry reads what you send personally and gets in touch to talk it through.
What you’ll talk about
Your current balance and rate, what you want to change, and how long you plan to stay in the home.
What to have handy
Your latest mortgage statement, if it’s nearby. It answers most questions about your current loan.
Who it fits
Check my refinance optionsHomeowners whose current loan no longer fits their goals.
- Owners who want a different rate or loan length
- Owners with an adjustable rate who want a fixed one
- Owners paying mortgage insurance who’ve built equity
- Owners with an FHA or VA loan weighing a streamlined refinance
What you’ll need
Check my refinance optionsYour loan officer confirms the list for your refinance.
- Your latest mortgage statement
- Recent pay stubs, W-2s and tax returns
- Your homeowners insurance details
- Bank statements
Common questions
When does refinancing make sense?
When the savings outweigh the costs over the time you expect to keep the loan. Your loan officer can show you the break-even point for your numbers.
Will refinancing restart my loan?
A new loan starts a new schedule, and you can choose a shorter one to keep your payoff date on track.
Refinance or a HELOC?
If you want to change the rate or terms on your whole loan, a refinance does that. If you like the mortgage you have and need cash, a HELOC keeps it. Your loan officer can compare both.
How much does it cost to refinance?
A refinance has closing costs much like a purchase: lender fees, an appraisal and title costs. Your Loan Estimate lists them, and some can be rolled into the new loan.
Can I refinance if my credit isn’t perfect?
Often, yes, depending on the loan. If you already have an FHA or VA loan, a streamlined refinance may be an option.
What is a streamline refinance?
A simplified refinance for borrowers who already have an FHA or VA loan, with less paperwork and often no appraisal.
Can I remove mortgage insurance by refinancing?
If your home’s value has risen or you’ve paid down your balance, refinancing into a conventional loan may let you drop it. Your loan officer can check whether your equity is there.
How soon after buying can I refinance?
It depends on the loan, and some refinances have waiting periods. Your loan officer can tell you when you’re eligible.
Will checking my options affect my credit?
Answering a few questions doesn’t check your credit. A credit check comes later, only with your permission, and your loan officer can explain how it may affect your score.
What if I don’t qualify?
Your loan officer tells you why and what would change the answer, such as more equity or a different program. Your current loan stays as it is.
Try the numbers.
Compare your current loan with a new one and see whether a refinance pays off for you.
Refinance Calculator
Talk to Larry.
Questions about this loan, answered by phone or in person.
Call or text
Office
5225 Old Orchard Rd. Suite 20
Chicagoland, IL 60077
Reviews
What clients say.
4.8
Larry is a fantastic lender and did a wonderful job with my client. He was very proactive in answering questions before they were asked.
Kevin Stark ·
Larry and his team were great to work with—clear and proactive communication and fees were very reasonable. They worked hard to make sure I received the best deal possible.
Vince Klos ·
Great Experience, Totally will use Larry from New American Funding for all my future business and personal investment's!
Lee Bertucci ·
Keep exploring.
Where to go from here.
Make your mortgage work for you again.
Larry reviews your loan with you and tells you plainly whether to change it.
(224) 595-8600