How to Refinance Your Mortgage

Published on August 16th, 2016


So, you have been in your house for a few years and you’re getting comfortable with your space. Want to save some money to freshen up the place or maybe invest in a second home? Have you considered refinancing? Mortgage rates are currently at an all-time low! Get in contact with a dedicated mortgage advisor or use our free multi-step calculator to get the ball rolling!

  1. What is your goal?

There are a few reasons why you may want to refinance. A refinance can offer a lower monthly payment, can shorten your payment period, consolidate your debt, lower your interest rate, or you can even take cash out. Understanding why you want to refinance can help guide you and aid you in finding the best loan option. Once your mortgage advisor knows your goal, he or she can point you in the right direction to achieve it.


  1. Look at your credit score
    Knowin­g your credit score can empower you during this process.  Are you even eligible t­o refinance? If your score isn’t as great as you thought it was, spend time improving your score. If you have a higher score, you will be offered better rates. You can save a lot of money in interest with a higher credit score. Use our Improve My Credit tool to explore your savings.


  1. Speak with a mortgage advisor

At vLoan, a dedicated mortgage advisor will be your main point of contact through the entire mortgage process. Your mortgage advisory will walk you through the process and help you pick out the most beneficial loan for your refinance. Any fees or other upfront costs will be discussed with you and you can receive a clear estimate of what you will be paying for and why.

  1. Lock in your rate

When is it the right time to lock in your mortgage refinance rate?It’s hard to tell if the timing is right.A lock can protect you from your rate changing during the process.But what if rates are moving in your favor? Let our dedicated advisors give you advice and guide you to the refinance you have been searching for.

There are numerous benefits to refinancing your mortgage. It might be time to weigh the pros and cons and consider your options. Our mortgage advisors are experts when it comes to refinancing. Feel free to give us a call at 1-844-77-vLoan to learn more! Want to compare your options? Get a free rate quote to get the process started.

Are you ready to get your digital mortgage process started?

Want to compare your options before you get started?