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Get the best rate on your mortgage!

Refinancing can be a great way to reduce your interest rate, your payment, or the term on your mortgage. You can also refinance to get cash out to pay off debt, make home improvements, or any other reason. If you’re refinancing a home in Virginia, let’s discuss your objectives and find the best possible solution. We can show you a side by side comparison of your current loan versus your refinancing options so you can see how much you could save by refinancing. We can also perform an automated valuation to get a more accurate idea of what your house is worth in today’s housing market. This will help determine the amount of equity in your home and how much you can potentially borrow.

Benefits of Refinancing in Virginia

Based on the scenarios above, you probably have already figured out some of the advantages of a refinance. When you refinance your home loan, you can:

Reduce the amount of your monthly payments and/or interest rate

Reduce the term to pay off your mortgage faster

Get cash out for home improvement

Consolidate your debts

Convert an adjustable rate to a fixed rate

Your savings could add up to thousands of dollars over the lifetime of your loan and help you build equity in your home at a much faster rate.

When Should You Consider Refinancing
Your Home?

There are a lot of different situations where a refinance makes sense. For example:

If interest rates were higher when you originally took out your mortgage, refinancing can help you take advantage of today’s lower rates.
Refinancing is a chance for you to convert your fixed rate mortgage into an adjustable rate mortgage or the other way around.
Reduce your payment by extending the term of your mortgage to make your payments more affordable
Have there been significant improvements in your financial details such as your credit score or debt-to-income ratio? This may qualify you for better rates and terms.

Home Refinance Qualifications

Do you qualify for a Virginia home refinance? We’ll go over your financial details and present all your loan options. Criteria that determines your loan options.

Credit score

Debt-to-income ratio

Employment history

Home value

Assets

As with any other type of loan, your credit score and financial strength will affect your interest rate and loan options.

How much is my house worth?

When you refinance the value of your home will determine how much you can borrow against it. In most cases, you will need to have an appraisal completed on your home. However, in some cases we may be able to waive the appraisal or do a very limited appraisal. Before we order an appraisal, we will perform an automated valuation on your home to get a better idea of what your home is worth in today’s housing market. This is a great way to assess how much equity you have and how much you can potentially borrow before you pay for an appraisal.

Apply Now to Refinance Your Home

Don’t wait to refinance your home in Virginia. The sooner you lock in a lower interest rate and better loan terms, the more money you can potentially save.

Apply Now

With offices in Blacksburg, Marion, and Abingdon we provide home refinance loans to all of Southwest Virginia including Christiansburg, Roanoke, Wytheville, Bristol, and the surrounding areas.

Have questions about refinancing?

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