"Our clients are mortgage wise, the rest are otherwise"
Home Refinance Strategies-Match benefits, costs, tax impacts
Rate-and-Term Refinance
Streamline Refinance (IRRRL)
Rate-and-Term Refinance
Replace your current loan with a new one at a lower rate, different term, or both.
- Lower monthly payment
- Shorten 30-year to 20 or 15 to slash lifetime interest
- Drop FHA mortgage insurance once you hit 20% equity
- Switch from ARM to fixed (or vice versa) on a strategy call
- When it makes sense: You can recover the closing costs within ~5 years of payment savings and you plan to stay 5+ years.
Cash-Out Refinance
Streamline Refinance (IRRRL)
Rate-and-Term Refinance
Pull tax-free cash from your equity for renovations, debt consolidation or downpayment on another property.
- Up to 80% LTV on most owner-occupied homes
- Often a better path than a HELOC for large lump sums
- Consolidate credit cards / personal loans into one fixed rate
- Renovations roll into the mortgage (and add resale value)
- When it makes sense:
Pull tax-free cash from your equity for renovations, debt consolidation or downpayment on another property.
- Up to 80% LTV on most owner-occupied homes
- Often a better path than a HELOC for large lump sums
- Consolidate credit cards / personal loans into one fixed rate
- Renovations roll into the mortgage (and add resale value)
- When it makes sense: The blended new rate is lower than your weighted average of current debts, and you have a clear plan for the cash.
Streamline Refinance (IRRRL)
Streamline Refinance (IRRRL)
Streamline Refinance (IRRRL)
VA, FHA, and USDA each have a streamlined refinance: minimal docs, no appraisal, and faster close.
- VA IRRRL: no income docs, often no appraisal
- FHA Streamline: no DTI verification on net tangible benefit
- Lower fees and faster close than a traditional refi
- Can roll closing costs into the loan
- When it makes sense: You're already in a VA or FHA l
VA, FHA, and USDA each have a streamlined refinance: minimal docs, no appraisal, and faster close.
- VA IRRRL: no income docs, often no appraisal
- FHA Streamline: no DTI verification on net tangible benefit
- Lower fees and faster close than a traditional refi
- Can roll closing costs into the loan
- When it makes sense: You're already in a VA or FHA loan and rates dropped enough that the math works after the new VA funding fee or FHA UFMIP.
DSCR / Investment Refinance
Streamline Refinance (IRRRL)
Streamline Refinance (IRRRL)
Refinance rental or short-term-rental property based on cash flow, not personal DTI. Use equity to fund the next acquisition.
- No tax returns, no W-2s, no personal DTI
- Close in your LLC
- STR income counts (Form 1007 / 1025)
- Often paired with portfolio strategy for 4+ door investors
- When it makes sense: You're scaling a portfolio and your person
Refinance rental or short-term-rental property based on cash flow, not personal DTI. Use equity to fund the next acquisition.
- No tax returns, no W-2s, no personal DTI
- Close in your LLC
- STR income counts (Form 1007 / 1025)
- Often paired with portfolio strategy for 4+ door investors
- When it makes sense: You're scaling a portfolio and your personal DTI is the bottleneck, let the property qualify itself.