Are you a homeowner looking to refinance your mortgage? Amerify gives borrowers the opportunity to easily opt for the following benefits in your mortgage refinancing:

Monthly repayments reduced

Remaining mortgage paid off

Disposable cash increased

Conventional Refinance Loan

You can customize your current interest rates and payment terms to suit your payment plans
You can obtain a Refinance cash out and use it to settle a current debt, or invest in a home improvement project
You can adapt your term options from 8 and 30 years

FHA Refinance Loan

You can choose between more flexible credit options
You will require additional mortgage insurance
We offer flexible term options from 8 and 30 years

VA Refinance Loan

Reserved for active duty, reservists, military veterans
No need for mortgage insurance required
More flexible and easy-to-meet credit requirements
You can adapt your payment terms from 8 and 30 years

Jumbo Refinance Loan

Higher amounts available to refinance your current loans
We will request higher reserve requirements
Clients will have to comply with more restrictive debt to income ratio requirements
You can choose between different term options between 8 and 30 years

Other Refinance Loans

You can choose an interest-only payment
You can choose your payment term and customize it from 8 to 30 years

Select the refinance option that best suits your needs and start saving money

Through competitive, low rates and personalized service, Amerify guarantees that you benefit from the interest rate that best suits your financial needs – variable or fixed.

Frequently Asked Questions About Loan Refinance

No question left unanswered! Get in touch with one of our Loan Officers.

  • How can I claim refinance tax deduction? Is mortgage interest tax deductible?
    You can claim this subtraction on your federal taxes to reduce your tax burden. If you wish to refinance a mortgage loan, there are a number of ways you can deduct:

    1) If you take a standard cash-out to refinance on a primary or secondary residence, you can deduct 100% of your interest for the last year, especially if the money was used for a capital home improvement or permanent structural change. For any other case, the deduction only applies to the percentage of interest on the original loan.

    2) If you take a refinance on investment property, you can deduct the discount points or any closing costs. These must be extended throughout the total refinance term will only be subtracted if the deductions have been itemized.

    You can also deduct your discount points and any closing costs you pay toward a refinance on an investment property. You must spread these costs over the total term of your refinance and can only deduct these expenses if you itemize your deductions.

  • s refinancing affect your credit score?
    Refinancing your current mortgage can have an effect on your credit score, aka FICO score. The reason is that you are adding a new loan to an already existing one. However, this effect is usually short-term.
  • What documentation do I need to take a refinance?
    1. Pay Stubs: You will need to provide your recent payslips or paycheck stubs. In case you are self-employed, you will need to submit two recent tax return forms and profit or loss statements. For any other alternative income source, you must also provide 1099 forms.

    2. Tax Returns and W-2s: Lenders usually ask for the W-2 statements and tax returns during the last two years.

    3. Credit Report: This is information that lenders and risk analysts typically ask for. Therefore, it is useful if you have your credit score checked.

    4. Statements of Outstanding Debt: Account statements on remaining debt can include current mortgage, home equity, lines of credit, as well as car loans or student loans.

    5. Statement of Assets: Details on your assets, properties, or savings will also be required. Nonetheless, if the total of assets is below $200,000, you will not be eligible.
  • What are the advantages of refinancing?
    Firstly, it can help you save money. This becomes more noticeable in situations where the original loan has high-interest rates. Refinancing will lower your loan's interest rate as well as shorten the payment term.

    Secondly, you will be able to obtain cash out and pay off remaining debts on credit cards, cars, or student loans, as well as invest in those home renovations you've been waiting for.
    Another advantage of refinancing your mortgage is that you can obtain cash out to pay off existing credit card debts, student loans, or invest in a home improvement project.
  • Do I need to provide a home appraisal to refinance?
    For most lenders, you will need to perform a home appraisal/valuation. However, the FHA Loan, VA Loan, or USDA Loan are usually exempt from home appraisals. Moreover, we strongly recommend that you ask your loan advisor, as there are other situations in which you may also be exempt and be eligible for a property inspection waiver (PIW).

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