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Helpful tools to get you started

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Refinance calculator

Estimate how much you might save by lowering your interest rate.

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Mortgage education

Check out our helpful home loan articles and more.

We can help make refinancing simpler!

Step 1: Choose your goal

To lower your rate or your monthly payment, you'll want a rate & term refinance. To get cash from your home's equity, you'll want a cash out refinance. We can help you with both! Keep in mind, by refinancing the total finance charges you pay may be higher over the life of the loan.

Freedom Mortgage can help you refinance or get a cash out refinance. Take a look at our loan options below to learn more.

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Refinances

  • All loans are eligible
  • Application requires more paperwork
  • Mortgage insurance required with home equity less than 20%
  • Closing takes more than 30 days
Learn more
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Cash Out Refinances

  • All qualified homeowners are eligible
  • Maximum loan-to-value ratio often 80%
  • Minimum credit score often 620
  • Mortgage insurance required with home equity less than 20%
  • No funding fee
Learn more

Step 2: Decide refinancing makes sense

The next step is to decide if refinancing makes sense for you. For a rate & term refinance, you’ll want to balance the benefit of lowering your rate or monthly payment against the closing costs you’ll probably have to pay. Refinancing might help you stop paying for mortgage insurance too.

For a cash out refinance, a good step is to figure out how much cash from your home equity you might be able to get. You can estimate this using your home’s value, your current mortgage balance, and the loan-to-value ratio (LTV) of the refinance.

Check out these useful articles that can help you run the numbers for the refinance you want!

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Should you refinance your mortgage?

Reasons why you should (or shouldn’t) refinance your home

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Maximum LTV for cash out refinance

Loan-to-value ratios (LTV) for cash out refinancing

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Step 3: Applying for refinancing

Once you’ve decided refinancing makes sense, the next step is to apply for a refinance with us. You’ll need to fill out an application and submit credit, income, and financial documents. We’ll review your application during the underwriting process and follow-up with any questions we may have. Once approved, you are ready to close on your new mortgage.

How to apply for a mortgage

About your mortgage loan application

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Mortgage application checklist

Check out the list of documents you need to gather to apply for a mortgage

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What to expect after your mortgage application

Learn more about the mortgage loan process

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Step 4: Close on your refinance

When your refinance is approved, you are ready to finalize your new mortgage! You typically have to attend closing in person to sign important documents. At Freedom Mortgage, we may be able to bring these documents to a location you choose. You will also probably have closing costs you will need to pay. We’ll make sure you understand everything you need to do to help make your closing go smoothly. If you are refinancing to get cash from your home’s equity, you will get your cash during closing.

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Practical tips for closing on a mortgage

Advice that can help you avoid hassles and delays

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What are closing costs?

Find out what to expect to pay on closing day

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Why Freedom Mortgage?

We are committed to making you a life-long customer with exceptional mortgages and exceptional service! Our Loan Advisors will help you choose the loan that's right for you. We'll answer your questions and work with you step by step to make buying your home easy and hassle-free.

Eagle Eye Program

Our Eagle Eye Program is our commitment to make you aware of any home financing opportunities that may be of interest to you.

Purchase Promise

When it's time for your next home, we'll find you the lowest rate possible and work with you every step of the way so you have worry-free closing.

Homeowners Insurance

Freedom Mortgage has partnered with Matic to help homeowners instantly shop for homeowners insurance.

Home Protection Plans

Home appliance and system breakdowns can be expensive. Protect your home and budget with a plan from Cinch Home Services for your home warranty needs.

For a more personalized experience, get started or give us a call and we can help guide you through all your options.

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