Whether your refinancing goals are to lower your monthly payments, pay your mortgage off faster, consolidate your debt, get cash from your home, keep mortgage payments from rising or remove mortgage insurance, Lenox/WesLend Financial has you covered. Let us make your cost-saving goal a reality.
We want to help you enrich your homeownership experience by providing refinance options that will keep money in your pocket, while allowing you to achieve your intended financial plan. With the help and guidance of our dedicated staff, customers like you have been able to improve their financial situation through refinancing in various ways:
- Lowering mortgage rates and payments
- Reducing the term of a loan
- Converting an adjustable rate into a fixed rate
- Removing mortgage insurance
- Consolidating debt
- Getting cash from the home
- Refinancing with HARP (Home Affordable Refinance Program)
These are only some of the reasons that have brought our customers back time and time again since 1999. Even though each person’s situation is unique, the mortgage advisors at Lenox/WesLend Financial strive to find the best solution for each customer, and help them meet their refinancing needs. We invite you to contact us and find out exactly how these options could work for you.
Why refinance with Lenox/WesLend?
Lenox/WesLend Financial is your partner through your refinance process from beginning to end. Our competitive rates, no closing cost options* and expertise will give you the confidence you need to move forward and achieve your refinancing goals, all while saving you thousands of dollars in the process.
Let’s work together to get you started on the path to refinancing. Contact us today and move forward with your home refinance process.
Refinancing options…the choice is yours!
Fixed Rate Mortgage
- 30 Year
- 25 Year
- 20 Year
- 15 Year
- 10 Year
Adjustable Rate Mortgage
Other loan programs you may be interested in…
* No closing costs options are NOT available in Washington.
Is a refinance loan for me?
Take a look at your situation and determine your reasons for wanting to refinance. Everyone has different circumstances that they may want to consider before refinancing. For instance, does your current mortgage have a pre-payment penalty clause? Are the current interest rates lower than yours? You may have an adjustable rate mortgage and now want to switch to a fixed rate mortgage to secure consistent payments and lower rates in the future. Your home could hold a large amount of equity now and you need assistance with funding college tuition, or wish to remodel parts of your home. It may be time to convert your 1st and 2nd mortgages into one mortgage. Whatever the reason, Lenox/WesLends’ expert team is here to help.
How much money will a refinance of my mortgage save me?
With mortgage interest rates constantly changing you want to be sure to get the best deal. Chances are when you purchased your home your interest rate was higher than the current rates. If this is the case, why pay more? Find out how much you could save, by using our refinance mortgage calculator or call one of our expert mortgage advisors.
If I have a second mortgage can I refinance my home?
During a refinance both mortgages are normally combined and paid off allowing you to have one mortgage payment. Some homeowners prefer to keep their second mortgage. In these instances we may be able to work with your lender. If they agree to remain in second position we may be able to refinance your first mortgage loan. The second mortgage lender may charge a fee for this process normally referred to as subordination.
Can I refinance if I owe more than my home is worth?
There may be options available to you if you owe more than your home is worth. One of our expert mortgage advisors can see if you qualify for one of our programs. Simply give us a call.
How much does it cost to refinance my home?
There are varied fees associated with refinancing a home; however, there are also typical standard fees you can expect. Escrow, notary, title, credit reports and recording fees are standard third party fees. Appraisal fee and lender fees, such as those in processing and underwriting, are also incurred. You can lower your interest rate if you decide to pay points. The cost each point equals 1% of your new mortgage loan. There will be several pro-rated fees which include property taxes, interest and homeowners insurance. If you have enough equity in your home, you may choose to incorporate all the fees and prepaid items into the cost of your new loan.*
What documents do I need to provide?
Just as in your original mortgage your mortgage advisor will request several income and asset related documents.
- The last 30 days paystubs
- W-2’s and tax returns for the previous 2 years
- The last 60 days of bank or mutual fund/stock statements
- Your most recent mortgage statement and homeowners insurance declarations page.
The underwriter will review your documents. After their review you may be required to provide additional items.
What if my credit is bad?
A refinance is not impossible with less than perfect credit. Depending on why your credit is imperfect, there are some great loan options available. Contact one of our expert mortgage advisors to determine whether or not you qualify for one of our programs.
Should the rates be at least .5% lower than my current rate for me to refinance?
There is no magic number to consider when thinking about refinancing. There are so many reasons to contemplate and everyone’s situation is different. You may have decided to stay in your home longer than you originally thought you would and now want to convert your adjustable rate mortgage to a fixed rate mortgage. While this may affect your monthly payment, you will have the peace of mind of knowing that your payment and interest rates are not going up over the life of your loan. Low-cost and no closing cost refinance options are available and may lower your mortgage payment and/or interest rate with little to no investment. Our expert mortgage advisors know all the questions to ask and situations to review to find you the best refinance loan option at the lowest rate possible. With all the facts, you can find out if a refinance makes sense for you.
What is a cash-out refinance and how can I use it?
A cash-out refinance allows you to take advantage of your home equity. Many homeowners are surprised to find they have more equity than they thought. You can use it to make home improvements which can in turn increase your home’s value, pay off credit card debt, purchase a second home or pay for college tuition. Your first mortgage is paid off and you are able to borrow a set amount of money from the remaining equity in your home. With your new refinance loan you are able to obtain some of your financial goals you have been struggling to achieve.
Can I refinance my home often?
Each state has separate regulations regarding how often and when you are able to refinance your home. Being a nationwide lender, our expert mortgage advisors can give you the information on the specific regulations in your state. Meeting your financial goals should be the most important consideration in determining if you should refinance your home. Be sure to consider things such as, whether or not you will incur a pre-payment penalty by paying off your existing mortgage. Is your interest rate higher than the current mortgage interest rate? Do you have equity? Are you planning to stay in your home for a long period of time?
What is the length of the refinance process?
We should be able to close your refinance loan in a little over 30 days providing you are able to provide all the required documentation that is needed in a timely manner.
What can I expect at the loan closing?
Loan closing regulations vary from state to state. Some states require they occur at a designated settlement location such as an attorney or escrow office. Others allow you to do it in your own home with the help of a signing authority. In all cases you will review and sign all your loan documents. You will need to present a certified check which includes closing fees and other applicable closing funds unless you decided to incorporate them into your new refinance loan. Refinancing is that simple.
* No closing costs options are NOT available in Washington.