Refinance Loans

Interested In A Mortgage Refinance?

What could you do with extra money each month?

A home purchase is one of life’s biggest investments. Refinancing is one way you can use your home’s equity to leverage that investment. There are several reasons you may want to refinance, such as getting cash from your home, lowering your monthly payment, and shortening your loan term.

At F&M Mortgage, we offer many options to meet your individual needs and analyze your current mortgage to make sure refinancing makes sense in your situation.  Our trusted Local Mortgage Advisors are committed to putting your needs first.

Cash-Out Refinance | Tap Into Your Home’s Equity

Cash-out refinancing lets you access the equity in your home and get cash at closing. The difference between your new loan amount and what’s owed is where you get the “cash out.” How much cash depends upon your home equity — how much your home is worth compared to how much you owe.

Benefits of Cash-out Refinancing

Access funds for major expenses

Put your home’s equity to work to help you save money, start an overdue renovation, or consolidate debt. There’s a lot you can do with a cash-out refinance. F&M Mortgage offers several options that may be right for you. For more ways to fund your home improvement project, see if a home renovation loan may be a better fit.

Types of Cash-out Refinance loans available

Conventional Cash-out Refinancing

A conventional cash-out refinance is most common, and typically easier to obtain, than an FHA or VA refinance, both of which have special eligibility guidelines. Even so, conventional cash-out refinances still have income and credit score requirements.

VA Cash-out Refinancing | FHA Cash-out Refinancing

Government-backed FHA and VA cash-out refinances offer attractive terms*. Depending on your situation, other government-backed refinance programs are available for mortgage assistance.

Ready to get started? It’s simple to create an account and Apply Online!  Or, contact a member of the F&M Mortgage Team to help answer your questions.

Benefits of A Mortgage Refinance?

• Lowering your monthly payment or interest rate
• Securing access to funds for major expenses
• Reducing the length of your loan
• Removing private mortgage insurance (PMI)
• Switching from an adjustable-rate mortgage to a fixed-rate loan
• Consolidating your mortgage, line of credits and other loans into one monthly payment

*Based on consumer qualifications. Terms apply.