When interest rates drop, refinancing a mortgage on an existing property may be a smart move to save you money. Everyone has different goals when refinancing, such as: converting an adjustable-rate mortgage (ARM) to a fixed-rate mortgage to gain stability in your monthly payments, lowering your interest rate, or taking cash out for home improvements or debt consolidation. Most home loan financing programs are available when refinancing a mortgage. To get started, please review our Required Documents page and contact an experienced Flagship mortgage originator to discuss the options that best fit your needs.
HARP and Streamline Refinances
Borrowers that presently own a home and their mortgage balance exceeds the value of the property may be able to refinance to lower the interest rate. Fannie Mae, Freddie Mac, or FHA must own the loan. Contact a Flagship Financial Services’ loan originator, who will analyze your property for eligibility for this type of refinance.