
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
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.
Pratik Kekre
David was very helpful in walking us through the process of home buying. As first time home buyers, that guidance made it stress free. We were well informed of status and progress made from time to time. Will be forever grateful to David and team. Thank you!
Jon Lowe
David and his team are amazing! This is our 2nd time having the pleasure with working with them. I cannot say enough how personal he takes his clients. He does everything he can to find the best deal that makes the most sense for us. When there was a bump in the road due to a regulation change in the new state we were moving to, he came with solutions to work it out vs. just giving up. If/when, we need a mortgage lender again, we will certainly contact only one lender - David Goldberg! Thanks for everything David!
Monica L G in Jacksonville, FL
On July 29, 2023Tony was a great communicator and worked hard to get us the best deal he could. He was amazing!
Louis J. T in Blue Island, IL
On August 01, 2023Michael Krach was very knowledgeable and always available to answer any of my questions. Excellent service from Michael.
Christine C I in Lawrence, NJ
On July 25, 2023We started out with another lender who would take a day or two to get back to us when we had questions regarding our loan. That all changed after speaking with Greg Potter and deciding to go with him for our loan. He was always available to quickly answer our questions. We never felt like we were in limbo waiting for an answer. I would definitely recommend him.
Gordon L G in Jacksonville, FL
On July 29, 2023The entire process was seamless. Tony and Tara were wonderful to work with.
Jon L in Fayetteville, TN
On July 20, 2023I have had a very good biz relationship with Sylas. He is the most honest person I know and it just goes a long way with me. I always feel like he does everything he can to get me the best lian offer he can get for me. He is an expert, he represents Mutual of Omaha Financial to the top of his ability, he has earned my business for every future loan I might need. He has made the sometimes lengthy loan process enjoyable, it seems that it comes natural for him, he is genuine. I greatly appreciate his candor and pleaseant coversations. Jon J. Loschiavo
Veronica N in Gibsonville, NC
On July 06, 2023The whole process was quick and easy. Using the app made it super easy to upload the necessary documents and I received timely communications and via email. Sylas was always available when needed and responded quickly every time. He is the number 1 reason that the experience was flawless.
Jackie B W in Fair Play, SC
On July 01, 2023The process from beginning to end was easy and the quickest that I've ever done. I would recommend working with Josh Reyes on your next loan. He was there to walk me through every step of the way. His team were professionals and answered all questions and concerns about the loan as soon as they come up. I woul recommend Mutual of Omaha as a lender to anyone looking for a loan.
60133 Reviews
Mortgage Tools at Your Fingertips
With the Mutual of Omaha Mortgage App, you’ll have all your mortgage tools in one place and move the process forward with a tap.
- Apply at anytime, from anywhere
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- Check your loan status 24/7
- Direct access to your loan officer
Mutual of Omaha Mortgage is proud to be part of a company with a rich history.
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.