Refinance

Refinance

When you refinance, you receive a completely new mortgage with new terms, interest rates and monthly payments—the new loan completely replaces your current mortgage. If you have a high-interest rate mortgage or maybe your payments are becoming unmanageable, refinancing may be able to lower your monthly payments, shorten the term of your loan.

Whatever the reason, there are basically two types of refinancing options available— Streamline or Traditional Refinance. Find out if you’re eligible and which option may be right for you.

Before looking into refinancing as an option, there are a couple of things you should consider. Your mortgage payments need to be current before applying. The application process is similar to when you applied for a mortgage to finance the purchase of your home, so start pulling your financing information together right away.

Streamline Refinance

What is Streamline Refinance?

Streamline Refinace is unique as it allows homeowners to take advantage of interest rate drops. If interest rates drops signifcantly lower than a homeowner’s current rate, the streamline refinance may be a good choice. The net result would be savings by way of lower monthly mortgage payments.

“Whether you’re looking to refinance a property you live in, or an investment property, find out if you qualify for this amazing program.”– Roger of East Orange, NJ, saved $763 per month

Streamline Refinance may be an option if:

TRADITIONAL REFINANCE

If you simply want to make your payments more comfortable or crash out and your home value is steady or has increased, you may be able to refinance your mortgage. You’ll go through an application, approval and closing process, similar to when you obtained your original mortgage. We will work with you through every step of the way.

"I refinanced and cashed out and at the same time lowered my monthly payment. It was a wonderful solution to my situation."

Contact us at (973)-378-3030 and a dedicated agent will explain more about a refinancing and help you submit the necessary request form. We want to help you stay in your home.

June 1, 2020

Covid-19 Update

Due to the current health concerns related to COVID-19, the Citizens Mortgage Relief staff will be working remotely until further notice. Please contact via info@citizensmortgagerelief.com or leave a voice message at (973) 378-3030 and we’ll return your call. Citizens Mortgage Relief encourages our clients and partners to submit any and all documentation in an electronic format whenever possible as staff will continue to check email and review information submitted electronically.