Conventional Refinance

Conventional Home Loan Refinance

Conventional Refinance. Let us see if a refinance will work for your needs.

Typically there a two categories of conventional refinances.

1. A cash-out refinance.  This type of conventional refinance allows for the current loan (if there is a lien on the property) to be paid off in the new loan and then additional "cash" can be taken out of the equity resulting in a larger loan amount. The cash may be used to pay-off debts, do home improvements, pay for other items.
2. No cash-out or limited cash-out refinance.
This loan type is for refinancing the current mortgage for an amount no greater than the current balance and some closing costs.  This is done for a net benefit for the borrower. Such as lowering the interest rate, fixing the rate from an adjustable rate, changing the term to reduce length or payment amount. There is no Conventional streamline refinance.
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Conventional Cash Out Refinance

A Conventional Cash-Out Refinance is a first mortgage. The maximum cash-out loan to value may vary depending on the lending institution and guidelines. Typically loan cost can be included in the new loan.

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FHA Rate and Term Refinance

A Conventional Refinance is also commonly referred to as a Rate and Term Refinance. The Refinance will pay off the previous loan on the property and will likely also include the cost associated with the new loan. This is usually done to shorten the term, extend the term to lower payment and/or reduce rate. It may also be done to convert an adjustable rate into a fixed rate.

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Conventional home loan refinance assistance.

Let us help you with your Maryland mortgage refinance. Reach out to us and let's discuss your options.

Professional Rate Quotes and Service

Professional assessment

Once you request a rate quote our licensed loan originators will review your information and help assess what program may work best for your needs. 

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Competitive rates

After the review of your current loan and financial situation you will be able to determine if a refinance will work for you. Once the proper program is chosen and you decide to move forward, you will receive a loan estimate.



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Customer Satisfaction Is Our Goal

Freedmont Mortgage®, a division of NFM Lending, has set the standard for trust, honesty, and integrity in the industry for nearly two decades. As one of the oldest licensed mortgage firms in the Mid-Atlantic area, we have the experience and reputation to assist homeowners and homebuyers in a variety of situations. We take pride in helping our clients and assuring they will gain a better understanding of the mortgage process.

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