Welcome to the team. We're on your side, for now & later.

We don't just help you find your home and get a mortgage. We can help you build your financial future in the years after, too.

Apply For A Refinance

Refinancing Your Mortgage with On Target Mortgage

Refinancing your mortgage can be a powerful financial tool to lower your monthly payments, reduce your interest rate, or tap into your home’s equity. At On Target Mortgage, LLC, we offer a variety of refinancing options designed to fit your unique financial needs. Whether you're looking to save money or access funds, our expert team is here to guide you through every step of the process.

Apply For A Refinance

Types of Refinances

Rate and Term Refinance

A Rate and Term Refinance is one of the most common refinancing options. It allows you to modify the interest rate, loan term, or both without changing the principal balance of your mortgage. This type of refinance is typically used to:

Lower your interest rate and reduce monthly payments.
Switch from an adjustable-rate mortgage (ARM) to a more stable fixed-rate mortgage.
Change the loan term to pay off the mortgage faster.

Who it's for: Homeowners looking to save money on interest over time or reduce their monthly mortgage payments.

Cash-Out Refinance

A Cash-Out Refinance allows you to take advantage of your home’s equity by refinancing for a larger loan amount than you currently owe and receiving the difference in cash. This option is ideal if you need funds for:

Home improvements or renovations.
Paying off high-interest debt (such as credit cards).
Major expenses like education or medical bills.

Who it's for: Homeowners with significant equity who need access to cash for large expenses.

Streamline Refinance (FHA/VA Loans

For homeowners with an FHA or VA loan, a Streamline Refinance offers a simplified process with less paperwork and no need for a new appraisal. It’s a fast, hassle-free way to lower your interest rate or switch loan terms without having to fully re-qualify for a new loan.

Lower your current interest rate.
Switch loan terms without fully re-qualifying for a new loan.
Simple way to improve loan with minimal effort.

Who it's for: Homeowners with existing FHA or VA loans looking to reduce their interest rate with minimal effort.

Cash-In Refinance

A Cash-In Refinance allows you to reduce your loan balance by paying a lump sum toward your mortgage. By doing this, you may be able to:

Lower your loan-to-value ratio (LTV) to avoid paying private mortgage insurance (PMI).
Qualify for a better interest rate.
Reduce your overall debt faster.

Who it's for: Homeowners who have extra cash on hand and want to reduce their mortgage balance or eliminate PMI.

Get Started On Your Refinance

Benefits of Refinancing Your Mortgage

Lower Interest Rates: Refinancing can help secure a lower interest rate, which can save you thousands of dollars over the life of your loan.
Lower Monthly Payments: By extending your loan term or securing a lower interest rate, you may be able to significantly reduce your monthly mortgage payments, freeing up more money in your budget.
Access to Cash: A cash-out refinance allows you to tap into your home’s equity and use the funds for any purpose, from home improvements to paying off high-interest debt.
Shorten Your Loan Term: If you’re looking to pay off your mortgage faster, refinancing to a shorter loan term, such as from 30 years to 15 years, can help you achieve that goal.
Switch to a Fixed Rate: If you have an adjustable-rate mortgage (ARM) and are concerned about rising interest rates, refinancing into a fixed-rate mortgage can provide long-term stability

I'm Ready!

Get Pre-Qualified, start shopping.

Feel ready to make that next move? Let's find out how much you can qualify for and get you connected with an On Target Mortgage Loan Officer.

I'm Not Sure If I'm Ready

Find out if you're ready.

Connect with our team to find out if you can get Pre-Qualified. This is a great way to learn about your options, without a commitment.

I'm Working To It

Schedule an appointment with us.

Schedule an appointment with our team to go over your goals for the future. This will allow you to take advantage of our expertise and give you a game plan.

Hear from clients who chose

On Target.

Powered by Google

STILL NOT SURE?

Frequently Asked Questions

Question 1: How much does it cost to refinance?

Refinancing costs can vary depending on factors such as loan size and type, but generally, you can expect closing costs to range from 2% to 5% of the loan amount. At On Target Mortgage, we provide a transparent breakdown of all costs upfront so there are no surprises.

Question 2: Will I need to get a home appraisal for refinancing?

In most cases, a new appraisal is required to assess the current value of your home. However, some loan types, like streamline refinances, may not require a new appraisal.

Question 3: How long does the refinance process take?

The refinancing process typically takes between 30 to 45 days, but it can vary depending on your individual circumstances and the type of loan.

Question 4: Can I refinance if my credit score has changed since I got my original mortgage?

Yes, you can still refinance if your credit score has changed. However, your new interest rate will depend on your current credit score. If your credit score has improved, you may qualify for better rates, but if it has decreased, it could result in a higher rate.

Question 5: Can I refinance to remove a co-borrower from my mortgage?

Yes, refinancing can be a good option to remove a co-borrower (such as after a divorce or separation) from your mortgage. The new loan will only include the remaining borrower(s), but you’ll need to qualify based on your own income and credit.

Question 6: How do I get Approved for a refinance?

It's pretty simple. you can click the button below and complete our 10-minute application. By doing so, our team can review your current situation and determine the best options for you based on your current loan and financial situation.