Frequently Asked Questions
What is optionrefi.com?
Optionrefi.com is a leading online mortgage broker site serving as a reliable and effective intermediary between prospective borrowers and top leading mortgage lenders and banks in the country. We strive to provide best customized mortgage refinance programs that fit’s pour customer’s needs.
How much will the services cost me?
Absolutely nothing! Optionrefi.com does not charge clients for any of the services provided. Our services are completely free-of-cost. Also, there is no Hidden Costs of any kind.
Is my personal information safe?
We guarantee the security and confidentiality for your personal details and because we work with some of the nation’s top banks, you know your information is safe with us. We respect your privacy and are committed to protecting it. Optionrefi.com will not sell or exchange your personal details with other companies or third parties and will not involve in any kind of spam activities. Read our privacy policy for more details.
How long will it take for my refinance application to be approved?
Within twenty-four hours, but hopefully within the hour, of submitting our simple hassle-free form you will receive competing mortgage refinance quotes from top leading lenders and banks in your local area.
Am I obligated to accept any offer that I receive from Optionrefi.com?
Certainly not! We strive to ease your task of mortgage shopping by providing you with customized quotes from leading lenders in your area. This will help you to save time and resources which you would otherwise spend on finding the right kind of lender with whom to refinance your mortgage. However, there are no obligations to accept any of our offers unless you are completely satisfied.
Why should I consider a mortgage refinance?
A mortgage refinance could benefit you in a number of ways.
- You can lower your interest rate and monthly payments.
- You can use the payment savings or the cash you take out of your equity to payoff debts
- You can tap into your home’s equity for any reason you choose.
- Enables you to take advantage of current mortgage rates by converting from a adjustable rate mortgage to the security of a fixed rate mortgage
How to determine your breakeven point for your mortgage refinance?
The Breakeven point is the point which you can recover your closing costs from the loan. You can find your mortgage refinance breakeven point using the following formula:
- Determine the total cost for refinancing - let us take an example: $1,000
- Determine the monthly savings - example: $50/month
- You can find the breakeven time by dividing total cost by savings amount - example: 1000/50 = 20 months (breakeven time).
How long does it normally take to breakeven on a mortgage refinance?
The time it takes to breakeven on a mortgage refinance varies based on a number of factors that is unique to your specific situation. Key influencing factors include - your mortgage interest rates, closing costs, time period you plan on staying in the home, type of mortgage you have whether fixed or adjustable rate mortgage, etc.
My credit is not perfect. Can I still apply for a mortgage refinance?
Certainly! You can get excellent terms and affordable rates on mortgage refinance even with less-than-perfect credit. There are numerous mortgage lenders and banks offering mortgage to persons with bad credits and low FICO scorea. Apply now and our mortgage professionals will assist you all the way to find you the best deal on mortgage refinance with a reliable lender. And, since it doesn’t cost anything, why not.
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