Refinance Loan Options

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Know Your Refinance Options.

Rate and Term Refinance

A rate and term refinance allows you to lower your interest rate, change your loan program, or both. This type of refinance is primarily driven by a decrease in interest rates. 

Cash out refinance

A cash-out refinance allows borrowers to convert the equity in their home into cash by getting a new mortgage for more than what is currently owed.

FHA streamline loans are only available to borrowers with an existing FHA mortgage. Streamlines allow lenders like Nationwide Equities to do just that, streamline the process by using limited documentation and underwriting.

  • The mortgage being refinance must already be an FHA loan.
  • Minimal documentation is required
  • No appraisal is required
  • Mortgage may not be delinquent.
  • Refinance must be a net tangible benefit to the borrower.

Tap into your home’s equity and take cash out using conventional lending or an FHA-insured mortgage.

Start investing in a new property using equity from an existing investment. 

streamlines

FHA streamline loans are only available to borrowers with an existing FHA mortgage. Streamlines allow lenders like Nationwide Equities to do just that, streamline the process by using limited documentation and underwriting.

FHA streamline loans are only available to borrowers with an existing FHA mortgage. Streamlines allow lenders like Nationwide Equities to do just that, streamline the process by using limited documentation and underwriting.

  • The mortgage being refinance must already be an FHA loan.
  • Minimal documentation is required
  • No appraisal is required
  • Mortgage may not be delinquent.
  • Refinance must be a net tangible benefit to the borrower.

Also known as the VA Interest Rate Reduction Refinance Loan (IRRRL), the VA Streamline refinance allows for quicker turnaround times and less documentation

  • Specifically for VA loan holders
  • Lowers interest rate
  • Minimal documentation is required

The USDA Streamline refinance allows for homeowners to lower their interest rates and obtain a more affordable loan.

  • Specifically for USDA loan holders
  • Minimal documentation is required
  • No credit report requirements
  • No home appraisal requirements
  • No property inspection requirements

reverse mortgage refinance

Reverse mortgage holders can refinance their existing loans with a reverse mortgage refinance. Here are some reasons why you should refinance your existing reverse mortgage loan:

If the rate has gone down since you’ve closed on your reverse mortgage, Nationwide Equities can help secure you a lower rate by refinancing. 

There are many instances why a reverse mortgage holder may be able to access additional funds. We will look at your home value, age, and new program changes to see if you qualify for more money. 

New reverse mortgage programs like our EquityPower reverse mortgage, now offer no monthly mortgage insurance premiums (MIP)! HECM reverse mortgages have also decreased their MIP rate. 

Since borrowers need to meet a minimum age requirement, 62 or older for a HECM reverse mortgage, some borrowers just put the older spouse on the loan. By refinancing your reverse mortgage, we can add the younger spouse once they turn 62 to provide more security for the family. Refinancing is the only way to add a borrower to the loan. 

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