Explore your Pre-Approval Offer
Refinance your way to a better mortgage.
If you've been pre-qualified for a mortgage, we'd love to have the opportunity to help you with your refinance needs.
Utilizing your home's equity is a powerful way to help you meet your financial goals. Call or chat now to learn more about your Pre-Approval!
Ready to get started? Give us a call at 888-238-7226 to speak to a representative immediately.
See What Our Customers Have to Say
Michael Lemay in Dandridge, TN
On January 01, 2024Chad was the best !. He has extensive knowledge of the industry and is very informative. But most of all he will always be there for the client. Personal attention and commitment are at the forefront. Many in this industry will make you feel like less of a person and chad makes you feel like family or a friend. He was always on top of everything and didn't wait on underwriting to contact him but was always reaching out to them and pushing to get things done. You will get a loyal advocate for you and he will let you vent any frustration with the many requirements without any judgment or sarcastic response. I have become very comfortable with chad and even though we have never met I would consider him a friend. If you want Personal attention with commitment to you and quick response you will not be disappointed with what he does for his clients. Kudos to you chad ! A huge thank you for everything!. He should really be a trainer in the industry for how all brokers should be this professional
Vicki Piwowarczyk in Saint Louis, MO
On December 25, 2023Quick responses and great communication during loan process
Russell B Angione in Port Orchard, WA
On October 03, 2023took care of everything we talked about.
Donald Lebnikoff in Allendale, NJ
On September 28, 2023Always got back to us quickly with any questions we had. Explained everything very well done could understand.
Colin Edward Connell in Waukegan, IL
On September 21, 2023Got it done quick and efficient
Rafael Kimo Young in Aiea, HI
On August 03, 2023If I am being honest, there were a few delays in processing that could have been avoided… I know for a fact that our end of providing the necessary information was on spot and prompt… This re finance should have closed earlier in my opinion
Travis Lee Morton in Morongo Valley, CA
On June 27, 2023Thank you Chad
Dwayne Gill in Ocala, FL
On January 31, 2023Chad explained the whole process which made it easy
Mark Caplan in Wauconda, IL
On September 17, 2022After dealing with Freedom Mortgage on refinances in the past, this was a much better experience. Chad answered all my questions quickly and gave me lots of confidence in some areas that I thought might have been roadblocks for me but he took the time to understand the issue and find the solution. I actually was going to refinance with Freedom Mortgage a few months prior to talking with Chad but cancelled with them towards the end of the process because I didnt feel comfortable talking with their loan advisor. Im lucky I found Chad and waited because I got a better rate and better deal overall and much better customer service.
Stephanie Schlabach
On September 12, 2022Chad was very easy to get ahold of and had the knowledge base to answer my questions as they came!
59 Reviews
Mutual of Omaha Mortgage has Built
A Legacy for More Than 100 Years
Founded in 1909, Mutual of Omaha serves over 4.6 million individual product customers and 36,000 employer groups.
For a century – through countless historical events – Mutual of Omaha has been there to keep promises to its customers. Inspired by hometown values and a commitment to being responsible and caring for each other, Mutual of Omaha Mortgage continues that legacy. Our mission is to provide home financing solutions that help our customers, and back our services with operational excellence at every level. Today, as the nation grapples with new financial realities, Mutual of Omaha Mortgage is strong, stable, secure, and ready to meet your mortgage and financial needs.
To learn more about your refinance offer,
give us a call at 888-238-7226.
Refinance questions. Simple answers.
There are lots of reasons why you may want to refinance your home. Perhaps you’re looking to pay your mortgage off sooner, lower your monthly payment, pay down debt or take cash out for a major purchase or renovation. Before deciding to refinance, it’s important to determine what you would like to accomplish. Remember, refinancing doesn’t get rid of your debt, instead it restructures it - often at a lower interest rate and at different loan terms from your original mortgage. Please give us a call to explore your refinancing options.
Without diving into your personal financial situation and the specifics of your individual mortgage, it’s really hard for us to determine exactly how much you may be able to save by refinancing your mortgage. It’s also important to remember that your reasons for refinancing may not be to save money… it may be to pay off debt or take cash out for a major purchase or renovation.
In general, there are a couple of different ways that you can save money when you refinance your mortgage. The first is to refinance to a more favorable interest rate or term - this can help lower your monthly mortgage expense but may end up costing you more in interest payments over the life of your loan. You can also save by refinancing if you adjust to a shorter-term mortgage (ie. a 15-year mortgage). When you refinance to a shorter term you’ll generally be paying more on a monthly basis but can save thousands in interest payments over the life of your loan.
If you’d like a custom mortgage refinance analysis, please give us a call at 888-238-7226.
Similar to when you purchased your home, the costs to refinance your mortgage include a loan origination fee, an appraisal fee, closing costs, title and attorney fees (depending on the state that you live in). Closing costs typically equal about 2-3% of your total loan amount.
When you work with the right mortgage company, like Mutual of Omaha Mortgage, it’s important to note that you may not have to incur any out of pocket expenses when you refinance your mortgage. There are still standard costs, but with the right lender, those costs can be financed and structured into your loan.
As part of your refinance evaluation process don’t forget to calculate your breakeven point. This is the point at which the costs of refinancing your home have been covered by the savings in money from your monthly payment amount.
In general, the process to refinance your mortgage takes 30-45 days. Depending on your property, and how complex or simple your personal finances are, your time to refinance may be shorter or longer than the averages noted above. Please keep in mind that while we work very diligently at Mutual of Omaha Mortgage to ensure the process is quick and easy, we have to depend on 3rd parties to perform some tasks during the refinance process (like appraisals and inspections) that can delay the process.
In general, when you’re refinancing your mortgage you will be asked to provide pay stubs, bank statements, and W-2’s. There may be additional documentation requests depending on your financial situation. Thanks to enhancements in our mortgage process, we’re now able to offer our clients a more automated way to be able to submit asset, income, and credit information to their mortgage banker at Mutual of Omaha Mortgage. With our automatic check process our clients often receive significantly less paperwork requests or repulling of information during the mortgage process. It can not only help to cut down on the frustration of trying to track down the required information but also help expedite your entire loan process.
A cash-out refinance replaces your existing mortgage loan with a loan for more than what you owe and allows you to cash out a portion of the equity that you’ve built within your home. When you do a cash out refinance, you will be getting a new home loan for an amount that’s more than your mortgage balance but less than or equal to the current value of your home. It’s important to note that you can’t pull out all of the equity that you have available in your home. Generally, the maximum amount of cash that you can take out is 80% of your home's value.
For illustration purposes, let's say your home is worth $200,000 and you owe $120,000 on your mortgage. That gives you $80,000 in home equity, or 40 percent of the home's value.
If you are doing a cash-out refinance you will need to retain 20 percent equity, so that gives you $40,000 available to borrow.
To borrow that amount, you would take out a new mortgage for $160,000 ($120,000 already owed plus $40,000). This would allow you to cash out/receive a $40,000 check minus any closing costs.
