All Loan Programs
Refinance
Lower your rate, reduce your term, or access your home equity.
N/A (equity required)
Min. Down Payment
580+
Min. Credit Score
50%
Max DTI
Overview
Refinancing replaces your current mortgage with a new one, potentially with better terms. Whether you want to lower your interest rate, shorten your loan term, switch from adjustable to fixed rate, or access your home equity with a cash-out refinance, GDM Mortgage Corp can help you find the right option.
Key Benefits
- Rate-and-term refinance to lower payments
- Cash-out refinance to access equity
- FHA/VA streamline refinance options
- No-closing-cost refinance available
- Debt consolidation options
Requirements
- 1Sufficient home equity (varies by program)
- 2Current on existing mortgage payments
- 3Meet credit and income requirements for new loan
- 4Property appraisal (may be waived for streamlines)
- 5Minimum time since last refinance may apply
Frequently Asked Questions
When should I refinance my mortgage?+
Consider refinancing when current rates are at least 0.5-1% lower than your existing rate, when you want to switch from an ARM to a fixed rate, when you want to shorten your loan term, or when you need to access home equity.
What is a cash-out refinance?+
A cash-out refinance replaces your existing mortgage with a larger one and gives you the difference in cash. You can use the funds for home improvements, debt consolidation, investments, or any other purpose.
How much does it cost to refinance?+
Refinancing typically costs 2-5% of the loan amount in closing costs. However, these can often be rolled into the new loan or offset by lender credits. No-closing-cost refinance options are also available.
Interested in Refinance?
Get pre-qualified in minutes. No commitment, no impact on your credit score.