Refinance
The first step you should take when looking to modify your loan is to see if you qualify for a standard refinance. It is one of the more straightforward options and can help you lower your monthly payments and stabilize your rate1.
Are you eligible?
Answer these 2 questions to find out if you are eligible:
- Do you have at least 10% equity built up in your home?
- Are you current on your payments?
If you answered “yes” to the above questions you may qualify for a refinance. If you do not have equity built in your home, you may still qualify for a refinance through the Making Home Affordable Program.
Before you call
Having a few important documents ready before you reach out to a home loan specialist will help us in finding the correct option for you.
Please make sure to have the following information with you when you call:
- Your loan number
- The monthly pre-tax income of each borrower on the loan
- Description of your financial hardship
- If you don't already have an escrow account, we'll also need:
- The amount of your last property tax bill
- The amount of your homeowners insurance bill
Please call 1.800.720.3758 (8am-11pm EST Mon - Fri, 9am-8pm EST Saturday, 9am-8pm EST Sunday) and speak with a Specialist about your refinance options.
Refinancing may increase the total number of monthly payments and/or the total amount paid when compared to your current situation.
This calculation is for informational purposes only, is based upon unverified information you provided at our website and should not be construed to mean that you qualify for a Home Affordable Modification Program loan modification. We are required to consider other factors in assessing whether you qualify for the Home Affordable Modification Program.
