Florida Choice Mortgage
Se Habla Español
(954) 447-9060

REFINANCING OPTIONS

Like most homeowners, you may have several reasons to refinance your home. Whether it's to lower your rate or receive cash from the equity available in your home and use it for home renovations, tuition, debt repayment or anything else you may need.

Cash Out Refinance

A cash out refinance is available to homeowners who have equity in their home and would like to access the equity to receive cash for any use they may have the need for. This type of loan is a credit qualifying loan where credit and income will be analyzed and used to qualify. Available for primary homes, as well as, 2nd homes and investment properties. An appraisal will be required to determine the value.

Conventional Rate and Term Refinance

A rate and term refinance is available to homeowners who just want to refinance to better their current rate and/or term. This type of loan is also a credit qualifying loan where credit and income will be analyzed and used to qualify. It is also available for primary homes, as well as, 2nd homes and investment properties and an appraisal would also be required to determine the value.

FHA to FHA Streamline Refinance

This type of refinance is available to homeowners who have an existing FHA mortgage and would like to refinance to better their current rate and/or term. This type of loan verifies employment and credit is analyzed but it does not require income verification. Since it is an FHA loan, it is only available for primary homes and because it is an FHA to FHA refinance, an appraisal is not required.


DU Refi Plus (also known as the HARP loan)

This type of refinance is available to homeowners who have an existing Fannie Mae owned mortgage acquired before June 1, 2009. It is also a loan to better your current rate and/or term. It is a credit qualifying loan where credit and income will be analyzed and used to qualify and it is available for primary homes, 2nd homes and Investment properties.

An appraisal is NOT required, IF the lender's Desktop Underwriting system waives the appraisal. The appraisal waiver can be checked prior to submitting the loan also.


If you have a Fannie Mae owned mortgage that you acquired before June 1, 2009 and owe more than your home's current value, this may be a great option for you.


To check if your mortgage is Fannie Mae owned, please click on the link below to direct you to the Fannie Mae Look Up site that will ask you some basic information regarding your home and let you know if it is a match. If you have a match, let us know so we can discuss it further.

Fannie Mae Look Up - http://www.knowyouroptions.com/loanlookup 


Please feel free to contact us and we can discuss your current situation in further detail
and also discuss financing options available to you.