Paying Off Your Mortgage Faster Is Easier Than You Think!
The shorter the term on your mortgage, the lower your mortgage rate. Did you know that you may be able to take advantage of today’s competitive rates by shortening the term of your loan? There are many options available that could potentially help you pay off your mortgage faster and could help you save money.
Refinancing Programs that can Reduce Your Monthly Mortgage Payment
- 15-Year Fixed
Pay thousands less in interest by locking in today! - 15-Year FHA or VA Loan
For those with less equity in their home or who are looking to close with less money, the FHA loan is the perfect choice. Great rates and measurable savings may be available if you are a military member or veteran
Not sure which program is right for you? Contact one of our specialists today! Refined Lending, a division of Luminate Bank, can advise you on which mortgage refinancing program best meets your needs, and help you refinance quickly and without any headaches.
Working with Refined Lending, a division of Luminate Bank,
- We put YOU first.
- Refined Lending, a division of Luminate Bank, offers some of the most competitive rates in the Nation!
- Fast and efficient, we close most of our loans in 30 days or less.
- We offer a variety of loans. Refined Lending, a division of Luminate Bank, can help you find the loan that is right for you!!!
Check out our refinancing calculator:
$each month
$in interest over the life of the loan
Savings over time(total interest saved - cost of refinancing)
Year 1$0Breakeven in
Current Mortgage
Current Balance
Current Interest Rate
Monthly Payment
Payoff Date
Total Interest
New Mortgage
Refinanced Loan Amount
Refinanced Interest Rate
Monthly Payment
Payoff Date
Total Interest
Interest Savings
Refinance Fees
New Monthly Payment:
Loan amount
Cash out
Cash in
Refinance fees
Roll Fees Into New Loan?
Total loan amount
Interest rate
Loan term
Monthly savings
Timeframe
Total Interest Savings
This is the sum of all the interest you will save over the life of the loan after refinancing.Year 1$0
Monthly Savings Breakdown
Current
New
Savings
$1,703
-
$3,065
=
-$1,362
Amortization Schedule Breakdown
Our detailed amortization schedule breaks down your mortgage payments, showing how they are split between interest and principal over the life of your loan.Note: The actual monthly payment may be higher than what is shown here, as this schedule does not account for variable costs such as property taxes and home insurance, which are often included in your total mortgage payment.
- Principal payments: (the amount borrowed)
- Interest payments: (the cost of borrowing)
