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Refi Options

Refi Options

Often people refinance to reduce their interest rate, cut monthly payments, or tap into their home’s equity. Some homeowners refinance to pay off the loan faster, get rid of mortgage insurance, or switch from an adjustable rate to a fixed-rate loan.

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Conventional Refinance

Refinancing is a process in which an existing mortgage is replaced with a new one, often to achieve various financial goals. One of the most flexible refinancing options available is the conventional loan. This type of mortgage can be used for primary residences, second homes, and investment rental properties.

Common Goals Achieved Through Conventional Refinancing:

  • Shortening the Loan Term: You can choose a 25, 20, 15, or even 10-year repayment schedule to replace a 30-year mortgage, reducing the total interest paid over time.

  • Switching to a Fixed-Rate Loan: Converting from an adjustable-rate mortgage (ARM) to a fixed-rate loan provides a predictable monthly payment for better budgeting.

  • Lowering the Interest Rate: Refinancing into a lower interest rate can reduce your monthly mortgage payment, saving you money over the life of the loan.

  • Eliminating Private Mortgage Insurance (PMI): As your home's equity grows, you may be able to remove PMI, further reducing your monthly expenses.

  • Accessing Home Equity: A cash-out refinance allows you to tap into your property's equity for home improvements, debt consolidation, or other financial needs.


Ready to Explore Your Conventional Refinancing Options?

At One Republic Mortgage, we specialize in tailoring mortgage solutions to meet your unique needs. Whether you're looking to shorten your loan term, secure a fixed-rate loan, or access your home's equity, our experienced team is here to guide you through the process.

Contact us today to discuss your specific goals, receive a personalized rate quote, and explore the best conventional refinancing option for you. Let us help you achieve your financial objectives and save on your mortgage.

Your journey to a more cost-effective mortgage starts here with One Republic Mortgage.

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