Mortgage refinance
With a home refinance from Quontic Bank, you may save more money for the future, lower your monthly payment or even get the cash out to update and improve your home. Quontic’s team of mortgage specialists are here to help you find the best type of loan that can meet your refinance goals and guide you through the entire refinance process.
Non-Traditional Mortgages
With a Non-Traditional Mortgage, inconsistent or difficult to document income may not hold you back from refinancing your home or investment property.
- Flexible documentation requirements
- 100% gifts allowed for down payment and closing costs
- Loan amounts up to $3,000,000.
Conventional loans1
Traditional loans through a non-traditional lender:
- A mortgage made for all types of properties.
- Higher credit score needed compared to an FHA loan
- Private Mortgage Insurance (PMI) required for down payments less than 20%
FHA loans
- Low down payments starting at 3.5%
- Your choice of fixed & adjustable rates
- A loan that’s more flexible to obtain vs. a conventional loan
VA loans
- Qualified members don’t need a down payment
- Relaxed credit requirements vs. a conventional loan
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Frequently Asked Questions
What’s a mortgage refinance?
A mortgage refinance happens when homeowners seek out a new home loan in order to replace their current loan. The reasons why vary from homeowner to homeowner, but traditionally the end goal is to save money on your monthly mortgage payment.
What are the benefits of a mortgage refinance?
There are many benefits to mortgage refinancing. Borrowers may be able to take advantage of their home equity, get a different type of loan, secure a lower interest rate, or even lower their monthly payments. Additionally, it is a great way to help consolidate any outstanding debt, upgrade your kitchen or bathroom, or shorten your 30-year mortgage. Whether you’re looking to eliminate PMI, pay less money each month on your mortgage payment or secure a fixed-rate mortgage, there are endless possible benefits to getting a refinance. In general, homeowners use refinancing as a way to better their financial situation.
How much home can I afford?
Many experts recommend that your housing costs — including mortgage, taxes and insurance — should be no more than 28% of your monthly income. However, this rule of thumb may not work for everyone. To figure out how much you can afford to spend on a home, consider your household income, monthly debts and the amount you plan to use for a down payment.
What are the current mortgage rates?
Why should I get my mortgage through Quontic Bank?
At Quontic, you’re more than just a loan application. We value all our customers’ diverse situations and embrace them with specialized mortgages made to fit their needs. Plus, in addition to being licensed to lend in all 50 states, we offer a diverse and multi-lingual sales team, an experienced Mortgage Specialist at every step and convenient and helpful customer service.
Disclaimer:
1 All lending products are subject to approval. Rates, program terms & conditions are subject to change without notice. Not all products are available in all states or for all amounts. This does not represent an offer to enter into a loan agreement. Other requirements, restrictions & limitations apply. Information is accurate as of August 15, 2024 & is subject to change without notice.
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