Refinance Your Loan – The Best Mortgage Refinancing Rates Available

Refinancing your existing loan(s) can be a game-changing experience. Let us help you refinance.

Refinancing your existing loan(s) can be a game-changing experience. Let us help you refinance.

Homeowners always want to find ways to save money. One way to potentially save a substantial amount of money is through refinancing your existing mortgage. Mortgage refinance rates are constantly changing, and sometimes they fall to levels that are much lower than what you originally agreed to. If this happens, refinancing can lead to big savings.

Not only will you get a lower interest rate, but you may also be able to secure a shorter loan term. This can help you save thousands of dollars as you pay off the existing loan amount. Therefore, it’s always worth considering whether or not refinancing makes sense for your situation.

  • Get debt under control – Homeowners often use refinancing as a way to consolidate their debt. If you have a lot of high-interest debt, such as credit card debt or personal loans, you can use your home’s equity to refinance and get it under control. By consolidating your debt into a single loan with a lower rate, you can considerably reduce what you pay each month.
  • Improve your living conditions – You can improve your home with a cash-out refi loan. Buy, sell, move up, move down, add on or renovate, consolidate debt and get cash for a million reasons.

Increasing home values means you may have more equity than you realize!

With home values increasing across most of the country, your home might be worth considerably more than it was when you originally purchased it. Particularly if you have been it in your home for a long time, you could be sitting on a valuable asset. That means you might be able to get a loan for significantly more than you paid for your home.

Why should you Refinance your Loan?

There are many reasons people refinance their loans. Let’s walk through some of the most popular reasons.

Save money

Refinancing your loan can save you real money.

Especially if your credit score has improved since you took out your loan, refinancing could be a great option to improve your finances.

And if you have outstanding debt, refinancing and consolidating your debt could significantly reduce your monthly payment.

Get a lower interest rate

The most common reason to refinance is to get lower interest mortgage rates. When you refinance your existing loan amount you are taking out a new loan to pay off your existing loan and getting new rates and terms. A lower rate means you pay less interest over the life of the loan (provided the term length doesn’t change). It only makes sense to refinance if your new terms are more favorable than the old.

This can save you hundreds or even thousands of dollars over the term of your loan term. And, the lower your interest rate, the more of your payment that will go toward principal each month, helping you build equity in your home more quickly.

Get rid of Private Mortgage Insurance

Refinancing can also get rid of required Private Mortgage Insurance (PMI). Mortgage insurance protects the lender if you default on your loan, but it doesn’t do anything for you. Homeowners with less than 20% equity are often required to purchase mortgage insurance, but refinancing can eliminate this requirement and the associated monthly premium.

Consolidate your debt

Perhaps the most important reason to refinance is to get your debt under control. Paying high interest on credit cards and other types of loans can devastate your finances. By making only the minimum payment required you end up paying hundreds or thousands of dollars in extra interest payments.

Refinancing for debt consolidation means taking out a new loan to pay off multiple debts. This can help you save money by consolidating your debt into one monthly payment at a lower rate.

  • Credit card consolidation – If you are struggling with high-interest credit card debt, it is important to get help.
  • Car loans - If you have a car loan payment with a high-interest rate, you may be able to refinance and reduce your payment.
  • Student loans – If you have student loans, you may be able to get a lower rate by refinancing your student loan.

Live a Better Life – Get debt under control today

Not only are you paying more in hard dollars, but the constant stress of paying your bills each month can negatively affect your health.

It doesn’t have to be this way!

Get rid of high-interest credit card debt and get a new loan.

Let me help you consolidate your debt

You can get all your debt consolidated into one loan with a lower mortgage refinance interest rate. This can end up saving you hundreds or thousands of dollars in interest payments and free up money each month.

When considering refinancing options, using a trusted mortgage broker like Right Trac Financial can help you choose from loan options to find what’s best for you.



Refinancing for Home Improvement

Another big reason folks refinance their mortgage is to make home improvements. Home improvements can increase the value of your home and make it more comfortable to live in. Oftentimes, people are intimidated by the refinancing process. Tracking down and filling out paperwork and dealing with banks isn’t anyone’s idea of “fun.”

But by tapping into the equity in your home, you can drastically improve your home, and life!

“Cash Out” Refinance

In many cases, you can use the equity in your home for what’s called cash-out refinancing. A cash out refinance loan is especially helpful if you need money for major expenses or if you want to improve your home. How much cash you can get depends on several factors including your mortgage balance and credit accounts. With home values increasing, you might be able to take out more money than you realize.

Change loan terms

Refinancing can also be a great option if you can secure more favorable loan terms. Perhaps you have an adjustable-rate loan and would like to switch to a fixed rate with a new mortgage and a lower monthly mortgage payment.

Or, you may want to shorten the term of your loan to pay it off sooner. Whatever your reason, we will discuss your options for home loans, walk you through the loan approval process, work with you to get the proper loan documents, and find the right mortgage lender for your needs.

Lower monthly payments

If you are struggling to make the minimum monthly loan payments, refinancing can be a great way to reduce your payments and get some relief.

For example, if your current mortgage is for two years, but your newly refinanced loan is for three, you’ll be able to give yourself some breathing room to make the monthly payments. By extending the length of your loan you can lower what you pay each month.

Keep in mind that when you extend the length of the loan, you could end up paying more in the long term because of the interest.

Pay off your loan faster

If your financial situation and credit score have improved since you took out the original loan, refinancing can help you pay off the loan faster. That means you’ll own your home or be out of debt faster. Normally that means you’ll pay less in interest since the length of the loan is shorter. Instead of paying off the loan over 36 months, you could pay it off in 24.

Convert ARM to fixed

If you have a variable rate, you can refinance for a fixed rate mortgage so that your monthly payments are more predictable. A fixed-rate loan will have the same interest rate for the life of the loan, while adjustable rate mortgages (ARM) have rates that can change.


Refinancing your mortgage can be a great way to lower your monthly payments and improve your life.

Refinancing your mortgage can be a great way to lower your monthly payments and improve your life.

Should I refinance my mortgage?

Choosing to refinance is a big one. It’s important to do your homework and make sure that it makes financial sense for you.

If you’re struggling with debt, have a high-interest rate, or want to make home improvements, refinancing may be a good option for you.

  • How much will you save? The answer to this question depends on several factors including the interest rate on your current mortgage, the interest rate on the new loan, and the lender fees associated with refinancing. You can use our mortgage calculator to get mortgage rates and estimate how much you could save by refinancing.
  • When is the right time to refinance? The answer to this question also depends on several factors. We are here to help guide you through the loan process and answer any questions you may have.
  • Refinancing can impact your credit score - Refinancing can have a positive or negative impact on your credit score. If you’re planning on applying for new lines of credit shortly, you may want to hold off on refinancing until after you’ve been approved.

Lower interest does not always mean savings

Keep in mind that lower interest does not always mean more savings. Even if your newly refinanced mortgage has a lower rate, depending on the length of the loan you could end up paying more in the long term. That’s because you would be paying off the loan over a longer period and paying interest on the loan for longer.

Refinancing Fees

Depending on the terms of your current loan, you could be responsible for fees if you refinance the loan. There are a few fees that are associated with refinancing, including:

  • Loan origination fees – This is a fee charged by the lender for processing the loan. It can be a percentage of the loan amount or a flat fee.
  • Application fees - These are fees charged by the lender for pulling your credit report and processing your loan application.
  • Appraisal fees - An appraiser will need to assess the value of your home to determine how much equity you have. A streamline refinance does not require an appraisal.
  • Early termination fees - If you have a loan with a prepayment penalty, you may be charged a fee for paying off the loan early. There are no prepayment penalties on conventional or government loans.

The good news is that many of these fees can be rolled into the loan so that you don’t have to pay them upfront.

It all depends on your circumstances.

Deciding to refinance your loan can be complicated and intimidating. That’s why a professional financial advisor like Right Trac Financial can be so helpful.

When you’re ready to refinance, we’re here to help!


We know the refinance game – we’ve been in it for decades!

The team at Right Trac Financial has seen boom and bust cycles, low rates, and high rates. We know how to help you refinance and want to guide you through loan processing step by step.

If you’re thinking about refinancing your mortgage, we want to help you make the best decision for your particular circumstances.

We work with only the most qualified mortgage lenders with the best mortgage refinance rates and are committed to helping you.

Refinance Rates

Interest rates are set by the individual lenders and are influenced by many factors. Your credit score and financial situation play a role, but factors outside of your control affect rates as well. The interest rate of the Federal Reserve has an outsized influence on loan rates.

Our job is to get you the best rate on your refinance, period.

Don’t worry about working with various lenders, we do the work with you. We work with only the most qualified professionals and will find you the right mortgage lender to fit your needs.

By using a refinance professional like Right Trac Financial, you don’t need to worry about today’s refi rates, tomorrow’s, or a year from now. We will find you the best rate available and get you approved for a refinance.

30 Year Refi Rates

When refinancing a home, most folks with an average financial situation opt for a thirty-year mortgage. That provides lower monthly payments that are manageable. The downside is that with a lower term rate, you’ll end up paying more in interest over time. But with a low 30-year rate on your refinance, the extra interest payments are likely worth it if it means you get to own your home.

15 Year Refi Rates

Because you’ll be paying off your mortgage in half the time, you’ll end up saving a significant amount of money. Of course, that means your monthly payments will be significantly higher than they otherwise would be.

Choose the loan term that’s right for you

We can refinance for any term you want. Although 15 and 30-year refinance are the most popular, we’ve done refinances for 20 years, 8 years, and anything in between.


The bottom line is that we are here for you!

The refinance process can be confusing and complicated. There are a lot of moving parts, and it’s hard to keep track of everything. That’s why working with a mortgage professional like Right Trac Financial is so important. We have the experience and knowledge to guide you through the entire process and get you the best loan available.


Average cost to refinance a home loan

The average cost to refinance a home loan is $2,500. However, the exact amount will vary depending on the type of loan you choose, the lender you use, and a variety of other factors. It’s important to get multiple quotes so you can compare fees and interest rates.


Refinancing options

When it comes to refinancing your mortgage or other loan types, there are a few options available. Refinancing options for veterans or first-time homeowners can be different than what’s available to someone with perfect credit. We’ve gathered some of the most popular types of refinance options below.

Conventional loan refinancing

Conventional loan refinancing means working with a private lender. You’ll need good credit to qualify, and you’ll probably get a lower rate if you have a high credit score or enough equity in your home.

  • FNMA cash out refinance - Homeowners with a Freddie Mac or Fannie Mae loan may be able to do a cash-out refinance. Refinance your loan for more than you owe, and take the difference out in cash.
  • FNMA Refi now - Homeowners with a Freddie Mac or Fannie Mae loan may be able to do a “no cost” refinance. This means you can refinance your loan and there are no fees associated with the loan.
  • Enhanced refi now - Homeowners with a Freddie Mac loan may be able to do an “enhanced” refinance. This type of refinancing gives you a lower rate and may allow you to avoid paying certain fees.

For many homeowners, the best option when refinancing their home mortgage is a conventional loan refinance. Conventional loans, also known as “conforming loans” mean that the amount being borrowed is less than the maximum loan limit set by Fannie Mae and Freddie Mac.

FHA Refinance

An FHA loan to refinance is available to first-time homeowners. You can secure a loan to buy a home with as little as 3.5% down. FHA loan rates are usually lower than conventional loans, making this option popular among first-time home buyers and folks with less than perfect credit.

FHA streamline refinance

An FHA Streamline refinance lets you avoid the home appraisal, which is often one of the more time-consuming and problematic aspects of refinancing an FHA loan. Note that with an FHA streamline refinance, you can only take up to $500 cash out to pay for some of the fees. So if you are looking for an FHA refinance for home improvement or debt consolidation, the streamline is not for you.

VA loan refinance

For military veterans or their families looking to refinance a VA loan to consolidate debt or make home improvements, a VA loan refinance could be a good choice. We can also help you refinance from VA to a conventional loan.

A VA cash-out refinance loan allows you to take additional money out to do things like pay off high-interest credit card debt, make home repairs, or anything else.

Interest rate reduction refinance loan (IRRRL) – The purpose of the IRRRL is to help veterans with VA-backed loans refinance quickly, with as little hassle as possible. The process is simpler and faster than a traditional refinance, and there’s no home appraisal required.

Refinance USDA loan

The United States Department of Agriculture (USDA) exists to promote development in rural communities around the country. If you currently have a USDA loan, we may be able to help you refinance into another USDA loan with a lower interest rate.

USDA streamline refinance – The USDA streamline refinance is similar to the FHA streamline refinance in that there is no home appraisal required. You can only take up to $500 cash out to pay for any fees associated with the refinance.

Cash out Refinancing

A home equity cash out refinance simply means that you are taking additional money out on top of the loan amount being paid off. Folks often do a cash-out refinance when they are making home improvements or want to pay off higher-interest debt.

But there are a million reasons to do a cash-out refinance, including to pay for school, buy a second or investment property, and even invest the money in a 401k.

Jumbo Loan Refinance

A jumbo refinance is appropriate when the loan amount exceeds the conforming (or conventional) loan limits. We can refinance your Jumbo loan. Jumbo refinances are normally done on higher-end homes or homes in affluent neighborhoods.

Like other types of refinance loans, Jumbo refinances are used to make addictions, install swimming pools, or just to pay off debt.

Personal Loan Refinance

If you have a personal loan with a high-interest rate, you may be able to refinance that loan and get a lower monthly payment.

Refinance a Home Equity loan

If you have a home equity loan, refinancing may be a good way to get a lower monthly payment.

Streamline refinance

A streamline refinance is a type of loan that requires less documentation than a traditional refinance loan. With a streamline refinance, you can often refinance your loan quickly and with little or no closing costs.

Rate and term refinance

A rate and term refinance simply means that you are taking out a new loan to pay off your old loan at a lower rate. This is different from a cash-out refinance, which means you are taking additional money out on top of the loan amount being paid off.

Loan to value ratio refinance

If you have a lot of equity in your home, refinancing could be beneficial. The loan-to-value ratio (LTV) is the percentage of the value of your home that you are borrowing.

No cost refinance

There are ways to secure a no closing cost refinance loan. But be aware that usually, the trade-off for not paying closing costs upfront is a higher interest rate.

Self employed refinancing

If you are self-employed and looking to refinance your loan, we can help. We know the challenges that come with trying to get a loan when you are self-employed and we have programs to help you get approved.

Bad credit refinance

If you have bad credit and are looking to refinance, we can help. We have programs for bad credit refinance loans that can help you get a lower rate and monthly payment.

No income verification refinance

If you are self-employed or have other income sources that are not reported on your tax return, you may still be able to qualify for refinancing. We offer no income verification refinance loans that do not require tax returns.

Stated income refinance

We can help you secure a stated income refinance mortgage even if you have credit issues. Stated income loans do not require tax returns or income verification.

Hard money refinance

Hard money loans are privately funded loans that are typically used for short-term financing, such as fix-and-flip projects, bridge loans, and other investment properties. Hard money loans are not for everyone, but they can be a good option if you cannot get traditional financing.

Refinancing immediately after closing

If you are looking to refinance your loan shortly after closing, we may be able to help. We have programs that allow for refinancing just a few days after closing.

Foreign national mortgage refinance

If you are a foreign national looking to refinance, we can help. We work with mortgage lenders and programs that allow for refinancing for foreign nationals.

Refinance Investment Property

If you are looking to refinance your investment property, we can help. We have programs that allow for the refinancing of investment properties.


Refinance rates

Mortgage rates are constantly changing, but we will find you the best rate possible. Factors like your credit history and debt to income ratio affect the rates available to you. Get in touch today to learn more about our refinance rates.

Ready to refinance your home loan?

Get in touch with us today to learn more about refinancing your home loan.


Why do you want to refinance?

There are many reasons to refinance your loan. Maybe you want to lower your monthly payment, get a lower interest rate, or consolidate debt. Or maybe you want to take cash out to make home improvements or pay off high-interest debt. Whatever your reason, we can help you get the loan you need.

Everyone’s situation is different, and there is almost no limit reasons why people refinance. But some of the reasons our customers choose to refinance include:

  • Refinance for home improvement – If you are looking to refinance your mortgage for home improvements, we can help. There are many loan types for home improvements including cash out refinancing.
  • Refinance a second mortgage – You can secure cash-out refinance to buy a second home or investment property.
  • Refinance to consolidate debt – If you are looking to refinance to consolidate debt, we can help. We want to help you get out of debt fast and know how to.
  • Investment property – If you have or would like to have an investment property, we can help you refinance your loan. We can help you refinance a rental property or refinance a primary residence to an investment property.
  • Refinance to invest – While it’s not for everyone, you can refinance your loan to invest in other opportunities. We can help you refinance for investment purposes.
  • Mobile home refinancing – We can help you refinance your manufactured home and get a loan with terms that fit your needs.
  • Pay off student loans – Refinance your loan and use the cash to pay off high-interest student loans.
  • To pay for college – You can borrow against a home loan to pay for college and get a lower rate. Education shouldn’t mean unmanageable debt.
  • Timeshare refinance – We can help you refinance your timeshare and get out of your timeshare contract.
  • Refinance commercial property – We can help with commercial loan refinance needs. We know how to refinance a commercial loan.
  • Auto loan refinance – We can help you lower your monthly car payment by refinancing your auto loan.
  • Refinance business loan – You can refinance small business loans to get a lower rate and monthly payment. You can refinance your SBA loan and get new terms.
  • Refinance reverse mortgage – We can help you refinance your reverse mortgage and get a new loan with more favorable terms.
  • Refinance to get rid of PMI – You can refinance to get rid of private mortgage insurance. There are a few mortgage refinance options available that allow you to eliminate the PMI requirement. FHA loans will require you to purchase homeowners insurance on a new mortgage. Refinancing can eliminate that requirement.
  • No closing cost refinance – You can refinance your existing mortgage loan with no loan closing costs. This means you will not have to pay for appraisal, origination, or other loan fees.
  • Refinance after forbearance – If you have gone through forbearance, you may still be able to refinance your loan. We can help you refinance your mortgage after forbearance.
  • Refinance divorce buyout – If you are going through a divorce, we can help you refinance your loan to buy out your spouse’s interest.
  • Refinance to avoid foreclosure – If you are in danger of foreclosure, we can help you refinance your mortgage loan and avoid foreclosure.

Whatever your reason for refinancing is, we will get it done.

The bottom line is we are here to help you refinance!

We are here to help you with your refinancing needs. Whether you are looking to lower your monthly payment, get a lower rate, consolidate debt, or take cash out for home improvements or to pay off.

Don’t wait, contact us today to see how we can help you refinance your mortgage loan!

Right Trac Financial Group
110 Main Street
Manchester, CT 06042
Phone: (860) 647-7701

Right Trac Financial Group Trac Financial Group, Inc.
Mortgage Broker License Number: MB2709
Licensed in: Connecticut, Maine, Massachusetts, Florida, New York, Rhode Island, Vermont and Licensed by the New Hampshire Banking Department

Equal Housing Lender