Get A Quote
Apply Online
apply online
apply online

Mortgage Refinance

Benefits of Refinancing Your Mortgage & What You Need to Know

Explore refinancing to potentially reduce your monthly mortgage payment with today’s lower rates, accelerate payoff with a shorter term, or tap into your home equity to fund renovations, payoff debt, or manage other large expenses

Apply Now

Why homeowners finance?

Lower Monthly Payments:
Secure a lower rate and improve cash flow
Pay Off Your Loan Faster:
Shorten your loan term
Cash-Out Refinance:
Use equity for renovations, debt consolidation, or investments
Switch Loan Type:
Move from adjustable to fixed-rate mortgage

Mortgage refinance guidelines

The qualifications for refinance depend on the mortgage program, but you could need:

Credit Check
Appraisal
Income / employment verification

 

To better understand your options and the guidelines its important to identify your existing mortgage and your goals. If you would like to cash out equity, the documentation requirements will be similar to your purchase. Refinancing may involve costs including underwriting, appraisal fees, title insurance, settlement fees that should factor into your decision – to help determine your break even.  Learn more about your options below.

Overview of Refinance Programs

Learn more about your refinance options

Conventional
Offering programs to replace your existing mortgage to lower your rate, adjust your term, switch from adjustable to fixed-rate mortgage, remove PMI or access home equity through cash-out options (max 89.99% LTV, 620 min credit score - for primary residence). Also eligible for second homes and investment properties.
FHA
Offering a streamlined refinance to lower your rate (no income verification or appraisal needed), adjust your term, switch from adjustable to fixed-rate mortgage or access home equity through cash-out options (max 80% LTV, 580 min credit score). Property must be your primary residence.
VA
Offering an Interest Rate Reduction Refinance Loan (IRRRL) to lower your rate (no income verification or appraisal needed), adjust your term, switch from adjustable to fixed-rate mortgage or access home equity through cash-out options (max 100% LTV / 580 min credit score). Must be your primary residence.
USDA
Offering a streamlined refinance to lower your rate (no appraisal needed), adjust your term, or switch from adjustable to fixed-rate mortgage.
Jumbo
Offering programs to replace your existing mortgage, to lower your rate, adjust your term, switch from adjustable to fixed-rate mortgage, or access home equity through cash-out options. (max 89.99% LTV, 680 min credit score - for primary residence)
DSCR
Offering programs to replace your existing mortgage, to lower your rate, adjust your term, switch from adjustable to fixed-rate mortgage, or access equity to fund additional investments (Max LTV 80% / 720 min credit score). Program only eligible for investment properties.
Bank Statement
Offering programs to replace your existing mortgage to lower your rate, adjust your term, switch from adjustable to fixed-rate mortgage, or access home equity through cash-out options. Qualify with 12 or 24 months of business or personal bank statements.
Profit & Loss
Offering programs to replace your existing mortgage, to lower your rate, adjust your term, switch from adjustable to fixed-rate mortgage, PMI or access home equity through cash-out options. Qualify with income statement, opposed to tax returns. Intended for self-employed borrowers

Refinance Calculator

Current Loan Details

New Loan Details

A REFINANCE COULD SAVE YOU
$265/ Month
Current monthly payment:$2,730
New monthly payment:$2,465
Estimated Costs:$4,000
Break-even 15 months

Start Refinance Application

Start My Approval

What Our Clients Say About Us

Top of the class mortgage broker. Easy to reach out too, candid, and hard-working broker that will make sure to get you the best rates in town. 100% recommend to anyone seeking his mortgage services.
Dilpreet S
John Jackson and Scout Advisors has been an amazing resource for our mortgage needs. He is incredibly knowledgeable about the market and provides excellent customer service. He secured super low rates for mortgages on our home and rental property. We will definitely work with John again when we're looking to buy or refi!
Rachael D
I worked with Scout Advisors to do a cash out refinance of my investment property. I had never heard of DSCR loan before starting this process. From someone that has bought and sold a lot of real estate in my life, this is hands down the easiest loan from start to finish. John was attentive to my questions and super responsive to any needs that arose. I got a great rate and closed quickly. More importantly to me what a pleasure it was to work with someone as knowledgeable and personable as John!! I would absolutely recommend John to my network!
Susan M
I created a spreadsheet to find the best rate. John Jackson beat the rate from a local credit union and my personal bank, I was shocked. How? Don't know. but I am grateful. Best mortgage rate in Raleigh and best mortgage rate online. Thank you
Clark H
John helped us with our mortgage when we relocated from Connecticut to Wake Forest. We purchased a new construction home and the build took longer than expected. We were working with a big box lender and our rate lock expired. They were going to charge us almost 20 grand in discount points. Thankfully a friend put us in touch with John at Barrett. He matched the rate and did not charge us any points. He also closed us in 14 days! Needless to say, we will be calling him when we start shopping for a 2nd home at the beach.
Jeff K
John Jackson is a superstar. During several refinancings, he stayed on top of all the details, answered all my questions and concerns promptly and in the end got me an excellent rate and terms - better then I thought I could get!!
Rich H
How do I know if it is worth it to refinance?

Divide the total closing costs by your monthly savings from the new loan. Example: If costs are $5,000 and you save $200/month, it takes 25 months to break even. If you plan to stay in the home longer than that, it could save you money overall. Factor in total interest over the loan life — shortening the term saves interest but raises monthly payments.

How much are the typical closing costs?

Typical closing costs (excluding rate buy-downs and escrows/prepaids) are approximately $4,000 to $6,000 and cover appraisal fees, underwriting, title insurance, settlement fees, credit checks, appraisals, etc.

How soon can I refinance an FHA or VA mortgage?

You are eligible to refinance after making 6 on-time payments and provided the rate is at least 1/2% lower than your current rate

Do I need to escrow for taxes and insurance?

You are not required to escrow on conventional, VA and non-qm mortgages (bank statement, PnL and DSCR). FHA requires escrows for taxes and insurance).

Have additional questions?

We’re here to help. Let’s talk.

Engage in a chat
Applicant subject to credit and underwriting approval. Not all applicants will be approved for financing. Receipt of application does not represent an approval for financing or interest rate guarantee. Refinancing your mortgage may increase costs over the term of your loan. Restrictions may apply. Savings, if any, vary based on the consumer’s credit profile, interest rate availability, and other factors. Contact Rate for current rates. Restrictions apply.
Mortgage Rates Ticker
DAILY MORTGAGE RATES
Powered by OBMMI™ OBMMI™ provides the most comprehensive, accurate, timely, and interactive analysis of pricing ever conducted in the mortgage industry. Calculated from actual locked rates with consumers across 35% of all mortgage transactions nationwide.
Loading rates...

About Us

Scout Advisors is a branch office of Barrett Financial Group, LLC, the nations largest mortgage brokerage in the country. We have the ability to shop over 200 lenders, providing a significant pricing advantage over banks and direct lenders.

Working Hours

Monday - Friday 9am - 5pm
Saturday - 9am to 2pm
(After hours use chat system)

Contact Us

jjackson@barrettfinancial.com
919-480-1725

Corporate Office

2701 East Insight Way, Suite 150
Chandler, AZ 85286
(480) 459-4500

Branch Address

206 Raleigh Street, Suite 203,
Fuquay Varina, NC 27526
Equal Housing Opportunity Logo
Untitled design (13)

© 2026 ScoutAdvisors.com, LLC D/B/A Scout Advisors.   All Right Reserved.  Licensed by the North Carolina Real Estate Commission C38081 and NMLS ID 2439070.  Website by Spiderhunts.com

Legal 

Terms of Use

Privacy Policy

Accessibilty

info@scoutadvisors.com
919-480-1725