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I want to access cash.
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How to Refinance a Home.

  1. Submit application and documents
    Your lender will review your income, assets, debt and credit score to determine what rate and terms you are eligible for.
  2. Complete an appraisal
    An appraisal will tell your mortgage lender what the actual value of your home is based on curb appeal and comps in your neighborhood.
  3. Work through underwriting
    Your lender will confirm the information you've provided and determine whether or not you can be approved for the new loan. Once all conditions are satisfied, you'll be clear to close.
  4. Closing and receiving funds
    Review and sign all final documents. After closing, the title company will pay off your old loan. If you selected a cash-out refinance, you can expect to receive your funds within three days.
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Popular home refinance programs we offer.

Improve My Credit

Qualify for an affordable home loan without having perfect credit.

Cash-Out Refinance

Take out cash and pay off high-interest debt.

15-Year Mortgage

Save tens of thousands of dollars in overall interest.

30-Year Mortgage

Fixed, low monthly payments with no surprises.

40-Year Mortgage

Fixed rate, extended repayment term.

Adjustable Rate Mortgage

An interest rate that adjusts over time based on the market.

VA Home Loans

Military benefits include zero down payment and no mortgage insurance.

Reverse Mortgage

Let your home pay you and stop making mortgage payments.

FHA Home Loans

Flexible credit requirements and down payments as low as 3.5%.

Jumbo Loans

Flexible rates and terms for higher-priced homes. No mortgage insurance required.

Bank Statement Loans

Self-employed borrowers can easily qualify for a mortgage without providing W-2s.

USDA Loans

No down payment, lower interest rates, and more flexible credit requirements.

Your Term Mortgage

Choose a custom term mortgage from 10 - 30 years based on your needs.

Low credit? No problem. Let our salary-based mortgage consultants help you with your refinance needs.

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Why American Financing?

No hassle or pressure

Our salary-based mortgage consultants work with you and for you. That means you never have to worry about being pressured during the refinance process. We’re here to guide you, from application to closing.

Custom loan programs

You won’t find a ‘one-size-fits-all’ approach at American Financing. We understand that every customer is different. And we’ll make sure your loan is right for you and your needs.

In-house underwriting and decision-making

As a full-service mortgage lender, we pride ourselves on doing everything under one roof. This helps us provide every customer with a seamless refinance experience.

Want more information on refinancing?

Feel free to check out any of our Learning Center articles.
Couple discussing paperwork with agent.
Guide to Home Mortgage Refinancing
Use this quick mortgage refinancing guide to understand and compare your refinancing options, estimated costs, and how to prepare to refinance your existing home loan.
READ MORE
→
Couple relaxing on couch thinking of a home.
Should I Refinance My Mortgage?
There are many benefits to refinancing, but do they make sense to you? Learn about options and ask yourself these questions before making a decision.
READ MORE
→
Calendar with a tack on the date to pay off debts.
Paying Off High-Interest Debt with a Mortgage Refinance
Paying off debt can take forever. It piles up fast. But, there are solutions. If you have home equity, a mortgage refinance can help. Here's how.
READ MORE
→

FAQ's

Still unsure if a mortgage refinance is right for you? We get it. That's why we've put together a list of the most common questions we get during the refinance process. If you can't find your answers there, give us a call at (800) 910-4055. We're always happy to help!
  • How do I know if I should refinance?
    If your payment is too high, your interest rate is higher than current rates, you're looking to consolidate debt, or you want to own your home sooner — consider a refinance.
  • How can I access cash to pay off debt?
    Ask for a cash-out refinance. Use your home equity to take money out for paying debt, college loans, even home improvements that will in turn increase your home value.
  • How can I increase my home equity?
    Equity increases naturally as you pay down your mortgage balance. You can also help it grow by completing home improvement projects or renovations.
  • Can I refinance to remove private mortgage insurance (PMI)?
    In many cases, the lender will allow cancellation of mortgage insurance when the loan is paid down to 80% of the original property value. Lender's requirements for this can vary state to state so contact your lender directly to understand your options. In the event you are not eligible to cancel PMI, refinancing to remove it may be an option (so long as you have the 20% equity).
  • Do I need an appraisal before refinancing?
    Not always. Most often it depends on your loan program and type of refinance (rate and term vs. cash out). Your salary-based mortgage consultant will be able to further discuss your appraisal options during the refinance process.
  • How long does it take to refinance?
    Time varies based on lender and how quickly you submit documentation. At American Financing, we're proud to offer closings that are faster than the industry average.
  • What documents are needed to refinance?
    Be sure you have pay stubs, bank account statements, tax returns (W2s and/or 1099's), your credit report, and proof of outstanding debts (student loans, car loans, alimony, child support, credit cards, etc.) ready.
  • How often can I refinance?
    There is no limitation to how many times you refinance, though many lenders (and even loan programs) require a certain amount of time between appraisals. This typically applies to cash-out refinances.

Use your home's equity to pay off high interest debt

Let a salary-based mortgage consultant create a custom loan that achieves your goals faster.

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