A refinance replaces your current mortgage with a new one. Done at the right time, it can lower your monthly payment, shorten your loan term, remove mortgage insurance, or turn home equity into cash. At 1st Advantage Mortgage, we are a local mortgage broker based uptown at 128 S Tryon St. We compare refinance options from multiple wholesale lenders and show you the real numbers, including your break-even point, before you decide.
Our clients have rated us 5.0 from more than 280 Google reviews. Call 704-343-8681 for a no-pressure refinance review.
Types of refinance we help with
- Rate and term refinance: Change your interest rate, your loan term, or both. Common goals are a lower payment or moving from a 30-year to a 15-year loan.
- Cash-out refinance: Borrow against your equity for home projects, debt consolidation, or other goals. Conventional cash-out is generally capped at 80% of your home's value. See Cash-Out Refinance.
- FHA to conventional: If you have built equity, moving off FHA can remove FHA mortgage insurance.
- FHA Streamline and VA IRRRL: Simplified refinances for existing FHA and VA loans, often with reduced paperwork and no new appraisal. See Streamline Refinance.
- VA cash-out: Eligible veterans can refinance into a VA loan and take cash out.
- ARM to fixed: Trade an adjustable rate for a fixed payment you can plan around.
When does refinancing make sense?
Refinancing has costs, so it should pay you back. We look at:
- Break-even point: Your closing costs divided by your monthly savings. If you save $250 a month and closing costs are $6,000, you break even in about 24 months.
- How long you plan to stay: If you will move before the break-even point, refinancing may not be worth it.
- Total interest over the life of the loan: Restarting a 30-year term can lower your payment but raise total interest. A shorter term can do the opposite.
- Your equity: More equity can mean better terms and no mortgage insurance.
- Your goals: Lower payment, faster payoff, cash for a project, or removing a co-borrower all point to different options.
We will tell you honestly if waiting is the better move.
What you need to refinance
- Recent pay stubs and W-2s, or tax returns if you are self-employed
- Your current mortgage statement
- Homeowners insurance information
- Bank statements
- An appraisal, unless your loan qualifies for a waiver or streamline option
Why refinance with a mortgage broker
- Lender comparison: We shop multiple wholesale lenders instead of offering one bank's pricing.
- Clear numbers: We show payment, closing costs, and break-even side by side.
- Local service: A Charlotte loan officer who answers the phone, from application to closing.
- Room on the calendar: With a new loan officer on our team, we can move quickly when the timing is right.
Areas we serve around Charlotte
- Mecklenburg County: Charlotte, Huntersville, Cornelius, Davidson, Matthews, Mint Hill, Pineville
- Gaston County: Gastonia, Belmont, Mount Holly
- Union County: Monroe, Indian Trail, Waxhaw, Weddington
- Cabarrus County: Concord, Harrisburg, Kannapolis
- Iredell County: Mooresville, Statesville, Troutman
- York and Lancaster County, SC: Rock Hill, Fort Mill, Tega Cay, Indian Land
Wondering if a refinance makes sense for you?
We will review your current loan, run the break-even math, and tell you straight whether now is the right time. No pressure.
Call 704-343-8681 or Get a Refinance Review online.
1st Advantage Mortgage
128 S Tryon St, Suite 1933, Charlotte, NC 28202
704-343-8681
Company NMLS #2468711
This is not a commitment to lend. All loans are subject to credit approval, underwriting, and property eligibility. Program guidelines and loan limits are subject to change without notice. Not all applicants will qualify. Equal Housing Opportunity.