Refinance your mortgage with options compared

Types of refinance

• Rate-and-term refinance: Changes your rate, your loan term or both, without taking cash out.
• Cash-out refinance: Replaces your loan with a larger one and pays you the difference in cash.
• Streamline refinance: FHA and VA loans may offer simplified refinances with less paperwork for eligible borrowers.
• Non-QM refinance: For self-employed borrowers and investors who qualify with bank statements or rental income.

When refinancing can make sense

• Market rates have moved enough to lower your payment after costs
• You want to pay off your home sooner with a shorter term
• You want to move from an adjustable rate to a fixed rate
• You want to drop mortgage insurance
• You want cash for renovations, debt consolidation or other goals

When it may not

If you plan to move soon, the closing costs may outweigh the savings. Resetting to a new long term can also mean paying more interest over time. A broker can run the break-even math with you.

What the process looks like

You apply, the lender reviews credit, income and equity, and an appraisal may be ordered. Once underwriting clears, you sign and your old loan is paid off. Documents usually include income paperwork, bank statements, your current mortgage statement and homeowners insurance.

Things to compare

• Total closing costs, not just the rate
• Your break-even point
• Loan term and total interest
• Any prepayment terms on non-QM loans

How Turn Times helps

Turn Times is a licensed mortgage broker, not a lender. Instead of offering one company's products, we compare refinance options from wholesale lenders and walk you through the differences in plain language. Here's how it usually goes:

1. Tell us your goal. A short conversation about the property, your timeline and what matters most to you.
2. We search pricing across wholesale lenders. We look at which wholesale lenders' guidelines may fit your situation, and a licensed loan officer compares their pricing and terms.
3. You choose. We lay out the trade-offs so you can pick the option that works for you.
4. We manage the loan to closing. Appraisal, title, conditions and updates along the way.

Every loan is subject to the lender's underwriting, and approval isn't guaranteed. We arrange loans for properties in California and Colorado.

Frequently asked questions