

Refinance Your Home Loan With Confidence
Refinance your way to a better mortgage.
Refinancing your mortgage is a powerful way to help you meet your financial goals.
Here are the top reasons people refinance:
See What Our Customers Have to Say
Scott M in Williamsburg, Virginia
On November 21, 2023Sheri went above and beyond to help us get through the loan process. She took the time to explain exactly what we needed and why. She never hesitated to take the extra time to follow up with everyone involved. We had an extremely complicated situation involving the IRS, a very problematic selling agent, appraisal repairs and more. I truly don't think we would have ever closed with any other loan officer besides Sheri. I will exclusively recommend her as well as use her in the future if we buy another house. Thank you so much
Tom C in Williamsburg, Virginia
On November 21, 2023Sheri is extremely professional, prompt and responsive. She works seven days a week and was always available when we needed her. She made the experience smooth in seamless. She took all of the stress out of the process. Answered all of our questions, and provided all the information we needed to make the most informed decision. She’s amazing!
Landon D H in Huntersville, NC
On November 18, 2023I was amazed at how simple the process was! Jake and his team provided guidance every step of the way. Our cash-out refinance was more than just an important transaction for us, it became a genuine relationship. Jake took time to explain the process and answer any questions we had. He listened to what our goals were and worked hard to make them happen. Another thing I like about this process is that the closing of the refinance is not the end of our relationship. Jake promises to follow our situation and stay in touch in the future to provide other options to better our financial situation as the market changes -- I like that!
David S in Gretna, NE
On November 01, 2023Grant was super patient and educational on the process. Very supportive and greatly appreciated His help along the way.
Jennifer P in Naperville, IL
On November 04, 2023The process was very a smooth. I appreciated all of the communication from Grant and the team. The portal for all of document upload and signing made it nice as well.
David V
On October 19, 2023Tony and his team were in top of our securing our mortgage from the start. There were a couple of hurdles we threw at them and they responded professionally and timely. I would highly recommend Tony Gatliff.
Gordon Z P in Marcellus, MI
On September 27, 2023Joshua listened to my needs and designed a mortgage that reached the goals I needed. Information came with explanation and made it easy through the entire process.
James G W in Coxs Creek, KY
On September 27, 2023Simple, fast, easy to talk to the team. Very quick turn around. Would recommend to others
Tim
Was easy to work with , We switched mid escrow and he locked us in at better rate, Some requirements were a bit redundant, but both wife an I are self employed so I guess that its part off the process
Andre K D in Manahawkin, NJ
On September 08, 2023My experience with Jake and his team is that they were very informative, prompt and precise showing great professional skills the way all lenders should be. The transaction went very smoothly and fast. From my wife and I thank you sincerely Jake Arthur and team.
61476 Reviews
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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.
Home refinance tips from the experts.
See how much you could save with a home refinance
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 1-800-24-RATES.
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.