Explore Your Refinance Options

Your mortgage should continue to fit your financial goals long after you purchase your home.

Whether you're looking to reduce your monthly payment, change your loan terms, access home equity, or consolidate qualifying debt, Vanguard Mortgage Group can help you evaluate whether refinancing makes financial sense.

No two homeowners are the same. We'll help you compare your current mortgage with available refinance options.

WHY REFINANCE?

Your Financial Goals Can Change. Your Mortgage Can Too.

Refinancing replaces your existing mortgage with a new loan. Depending on your financial situation, property and available loan programs, refinancing may help you accomplish several different goals.

LOWER YOUR MONTHLY PAYMENT

A lower interest rate, longer repayment term, or different loan structure may reduce your monthly principal and interest payment.

ACCESS YOUR HOME EQUITY

A cash-out refinance may allow qualified homeowners to convert a portion of their available home equity into cash.

CHANGE YOUR LOAN TERM

Moving from a longer mortgage term to a shorter term may help you pay off your home faster and potentially reduce total interest paid over the life of the loan.

CONSOLIDATE DEBT

Home equity may potentially be used to pay off higher-interest obligations. This can simplify monthly payments, although converting unsecured debt into debt secured by your home should be carefully evaluated.

CHANGE YOUR LOAN PROGRAM

Your current mortgage may no longer be the best fit. Depending on eligibility, refinancing may allow you to move from one loan program or structure to another.

REFINANCE OPTIONS

Find the Strategy That Fits Your Goals

RATE-AND-TERM REFINANCE

Replace your existing mortgage with a new loan primarily to change your interest rate, repayment term, or both.

May be worth exploring if you want to:

• Potentially lower your mortgage payment

• Change the length of your mortgage

• Move from an adjustable-rate to a fixed-rate mortgage

• Restructure your existing financing

[EXPLORE RATE & TERM REFINANCING]

CASH-OUT REFINANCE

Qualified homeowners may be able to borrow against a portion of the equity accumulated in their home and receive the difference in cash at closing.

Potential uses may include:

• Home improvements

• Debt consolidation

• Major expenses

• Investment or business purposes, when permitted

• Other financial goals

Your available equity, credit profile, property value, occupancy and loan program will help determine your options.

FHA REFINANCE

Existing and qualified homeowners may have FHA refinancing options depending on their current mortgage and financial situation.

Options may include certain rate-and-term, cash-out, or streamlined refinance programs for eligible borrowers.

VA REFINANCE

Eligible veterans, active-duty service members and certain surviving spouses may have access to VA refinance programs.

Depending on eligibility and the existing mortgage, options may include a VA Interest Rate Reduction Refinance Loan (IRRRL) or VA cash-out refinancing.

SHOULD YOU REFINANCE?

A Lower Rate Isn't the Only Number That Matters

The best refinance isn't necessarily the loan with the lowest advertised interest rate.

You should consider the complete financial impact, including:

• Your current mortgage balance

• Current interest rate

• Remaining loan term

• Proposed new interest rate

• Proposed loan term

• Monthly payment difference

• Closing costs

• Mortgage insurance, if applicable

• How long you expect to own the property

• Your overall financial objective

REFINANCE BREAK-EVEN

One useful measurement is how long it may take for monthly savings to recover the upfront cost of refinancing.

Example:

Estimated Refinance Costs: $4,500

Estimated Monthly Savings: $250

$4,500 ÷ $250 = 18 Months

In this simplified example, the homeowner reaches the estimated break-even point after approximately 18 months.

This calculation does not account for every financial factor and should not be the sole basis for deciding whether to refinance.

CASH-OUT VS. RATE-AND-TERM

Which Refinance Fits Your Goal?

RATE & TERM CASH-OUT Replace:

existing mortgage✓✓

Potentially lower payment✓

PossibleChange loan term✓✓

Access home equity✓

Receive cash at closing✓

New underwriting required✓✓

Not sure which strategy makes sense?

We'll compare the available options with your current mortgage before you decide how to proceed.

HOW REFINANCING WORKS:

From Review to Closing

01 | REVIEW YOUR CURRENT MORTGAGE

We'll start by looking at your existing mortgage, estimated property value and what you want to accomplish.

02 | COMPARE YOUR OPTIONS

We'll evaluate available refinance programs and help you understand the potential payment, loan term, costs and overall financial impact.

03 | APPLY

If refinancing makes sense, complete your mortgage application and provide the documentation required for underwriting.

04 | PROPERTY & UNDERWRITING REVIEW

Depending on the loan program and transaction, an appraisal or other property valuation may be required. Your income, assets, credit and other applicable information will also be reviewed.

05 | REVIEW & CLOSE

Review your final loan terms and closing disclosures before signing your new mortgage documents.

Your new loan pays off the existing mortgage, and any eligible cash-out proceeds are distributed according to the closing terms.

REFINANCING ISN'T ALWAYS THE RIGHT ANSWER

We'll Help You Look at the Numbers First

Refinancing can be a powerful financial tool, but it isn't automatically beneficial simply because a lower interest rate is available.

Closing costs, resetting your loan term, increasing your mortgage balance, mortgage insurance and your expected time in the home can all affect whether refinancing makes sense.

At Vanguard Mortgage Group, our goal is to help you understand the numbers before you make the decision.

Current Mortgage → Available Options → Costs → Savings → Long-Term Impact

If the numbers make sense, we'll help you move forward.

[REQUEST A REFINANCE REVIEW]

LOCAL MORTGAGE EXPERTISE

Refinance With Vanguard Mortgage Group

Vanguard Mortgage Group provides mortgage solutions for homeowners throughout Oklahoma.

Whether you're refinancing a home in the Tulsa metro, Oklahoma City metro, or another community we serve, you'll receive personalized guidance throughout the process.

Our approach is simple:

Understand your goal. Evaluate the numbers. Find the right financing strategy.

FREQUENTLY ASKED QUESTIONS

How much equity do I need to refinance?

Equity requirements depend on the refinance program, property type, occupancy, credit profile and whether you're requesting cash out. A loan specialist can evaluate your property and current mortgage to determine which options may be available.

Do I need an appraisal to refinance?

Not always. Some transactions may qualify for an appraisal waiver or alternative valuation method, while others require a traditional appraisal. Requirements depend on the loan program and individual transaction.

Does refinancing restart my mortgage?

A refinance creates a new mortgage with a new repayment schedule. However, you aren't necessarily required to select the same term as your original mortgage. Depending on available programs and qualification, different loan terms may be available.

Can I refinance and take cash out?

Qualified homeowners may be eligible for a cash-out refinance based on available equity, property value, credit profile and applicable program requirements.

Can refinancing remove mortgage insurance?

Potentially. Whether mortgage insurance can be removed depends on your current mortgage, new loan program, property value and applicable guidelines.

How much does refinancing cost?

Costs vary by transaction and can include lender charges, appraisal or valuation costs, title-related expenses, prepaid items and other closing costs. We'll provide disclosures detailing the applicable costs associated with your proposed refinance.

Can I refinance if my credit has changed?

Potentially. Credit requirements vary by loan program. Your current credit profile is one of several factors used to determine eligibility and available terms.

How do I know whether refinancing is worth it?

There isn't one universal interest-rate reduction that automatically makes refinancing worthwhile. The better approach is to compare your existing mortgage against the proposed loan, including monthly savings, closing costs, loan term and how long you expect to keep the property.

SEE WHAT YOUR MORTGAGE COULD DO

Let's Run the Numbers.

You don't have to refinance simply because you request an evaluation.

Let Vanguard Mortgage Group compare your current mortgage with today's available options and help you determine whether refinancing supports your financial goals.