Common Refinancing Questions

Should I Refinance?

If you’re looking to lower your payment or perhaps take some cash out of your house for debt consolidation or home improvements, refinancing might be a great option for you. Simply compare your current interest rate to Crestline Funding’s low rates. If Crestline Funding’s rates are lower, we can save you money by refinancing. If you’re looking for long term security, refinancing an adjustable rate mortgage into a fixed rate loan is a no-brainer.

How Much Can I Save if I Refinance?

Everyone’s situation is different. It all depends on your current interest rate, the amount of equity you have in your home and your loan amount. To see how much money you can save by refinancing, take a look at our refinancing calculator.

What if I have a Second Mortgage? Can I Refinance?

Yes. There are a couple of options for people with 2nd mortgages. Usually, a 2nd mortgage is paid off through the refinance. Crestline Funding can consolidate your loans into a new 1st mortgage with one low monthly payment. Or, if you’d like to maintain your 2nd mortgage, we can subordinate that loan and only refinance your 1st mortgage.

Can I Refinance if My Property Value is Less Than What I Owe?

There are refinancing options available for borrowers whose property value is less than what they owe. Simply call a Crestline Funding representative and they can suggest a loan that can work for you.

What are the Costs Associated with Refinancing?

Crestline Funding has a number of loan programs with NO Points and NO Fees. Standard loan fees include a credit report, appraisal, underwriting, processing, title, escrow, and recording fees. If you wish to pay discount points to lower your interest rate, each point will cost approximately 1% of the new loan amount.

What Type of Documentation Do I Need to Refinance?

You will need to verify your income by providing your two most recent pay stubs and previous two years’ W-2s and tax returns. You will also need to provide information explaining all of your assets, including bank or mutual fund/stock statements over the last 60 days and any current loan and debt information.

Can I Refinance with Bad Credit?

We do have loan programs for people with less-than-perfect-credit. Everyone’s situation is different. Call Crestline Funding today to see if you qualify.