Refinance Overview
What are some good reasons to refinance your mortgage?
Lower your payment
Take cash out to pay off high interest debt or improve your home
Pay off your loan faster
Get a low rate for the life of your loan
Refinancing Loan Options
Madison Management provides the flexibility you need to consider refinancing your mortgage. We have loan products for primary residences, second/vacation homes and investment properties. Here are our most popular offerings:
Mortgage Type
Key Benefits
Worth Considering If You…
Conventional Fixed-Rate Mortgages
A low rate that never changes.
The best fixed rates
Your rate never changes for the life of your loan
Plan to stay in your home for a longer period of time
Have good credit
Adjustable-Rate Mortgages (Arms)
The lowest rate for the first 3-10 years of the loan for eligible buyers. After the initial term, your rate will adjust according to current market rates and may increase.
The lowest short-term rates
The lowest monthly payments for at least the introductory period of the loan
Think you’ll be moving before being exposed to the risk of higher rates
Have good credit
Possess the funds for the required down payment
FHA Mortgages
Option 1: Loans with as low as 3.5% down payment and less stringent credit score requirements.
Low down payment options
Current FHA borrowers can do a streamline refinance without an appraisal
Option of fixed-rate or adjustable-rate (ARM) loans
Lack a good credit history
Don’t have the funds available for a larger down payment
VA Mortgages
Government-backed loans offered exclusively to our valued members of the military.
Lower or zero down payment needed
Mortgage insurance is not required
Flexible qualification guidelines
Fixed-rate and ARM options are available
Are an active military member or veteran
Are the surviving spouse of a deceased service member who lost their life in military service
Investment Property Mortgages
Loan program for individuals or families who plan to occupy a single-family home in a designated rural area as their primary residence.
Competitive rates on fixed-rate loans
Higher loan amounts can be permitted
Live in a designated rural area
Don’t have the required funds for a down payment
Investment Property Mortgages
You choose the term of your mortgage based on what works for you.
Competitive rates on fixed-rate loans
Higher loan amounts can be permitted
Want to take advantage of a lower rate but don’t want to extend the length of your loan
Would like your loan to sync up with a specific date, like your retirement
Investment Property Mortgages
Loans for a property used to produce a return on the investment.
Competitive rates on fixed-rate loans
Higher loan amounts can be permitted
Have good credit
Possess substantial cash reserves
Are looking to invest or diversify your investment portfolio
Mortgage Type
Conventional Fixed-Rate Mortgages
A low rate that never changes.
Key Benefits
The best fixed rates
Your rate never changes for the life of your loan
Worth Considering If You…
Plan to stay in your home for a longer period of time
Have good credit
Mortgage Type
Adjustable-Rate Mortgages (Arms)
The lowest rate for the first 3-10 years of the loan for eligible buyers. After the initial term, your rate will adjust according to current market rates and may increase.
Key Benefits
The lowest short-term rates
The lowest monthly payments for at least the introductory period of the loan
Worth Considering If You…
Think you’ll be moving before being exposed to the risk of higher rates
Have good credit
Possess the funds for the required down payment
Mortgage Type
FHA Mortgages
Option 1: Loans with as low as 3.5% down payment and less stringent credit score requirements.
Key Benefits
Low down payment options
Current FHA borrowers can do a streamline refinance without an appraisal
Option of fixed-rate or adjustable-rate (ARM) loans
Worth Considering If You…
Lack a good credit history
Don’t have the funds available for a larger down payment
Mortgage Type
VA Mortgages
Government-backed loans for eligible military members and their spouses.
Key Benefits
Lower or zero down payment needed
Mortgage insurance is not required
Flexible qualification guidelines
Fixed-rate and ARM options are available
Worth Considering If You…
Are an active military member or veteran
Are the surviving spouse of a service member and you haven’t remarried
Mortgage Type
Investment Property Mortgages
Loan program for individuals or families who plan to occupy a single-family home in a designated rural area as their primary residence.
Key Benefits
Competitive rates on fixed-rate loans
Higher loan amounts can be permitted
Worth Considering If You…
Live in a designated rural area
Don’t have the required funds for a down payment
Mortgage Type
Investment Property Mortgages
You choose the term of your mortgage based on what works for you.
Key Benefits
Competitive rates on fixed-rate loans
Higher loan amounts can be permitted
Worth Considering If You…
Want to take advantage of a lower rate but don’t want to extend the length of your loan
Would like your loan to sync up with a specific date, like your retirement
Mortgage Type
Investment Property Mortgages
Loans for a property used to produce a return on the investment.
Key Benefits
Competitive rates on fixed-rate loans
Higher loan amounts can be permitted
Worth Considering If You…
Have good credit
Possess substantial cash reserves
Are looking to invest or diversify your investment portfolio
Mortgage Type
Conventional Fixed-Rate Mortgages
A low rate that never changes.
Key Benefits
The best fixed rates
Your rate never changes for the life of your loan
Worth Considering If You…
Plan to stay in your home for a longer period of time
Have good credit
Mortgage Type
Adjustable-Rate Mortgages (Arms)
The lowest rate for the first 3-10 years of the loan for eligible buyers. After the initial term, your rate will adjust according to current market rates and may increase.
Key Benefits
The lowest short-term rates
The lowest monthly payments for at least the introductory period of the loan
Worth Considering If You…
Think you’ll be moving before being exposed to the risk of higher rates
Have good credit
Possess the funds for the required down payment
Mortgage Type
FHA Mortgages
Option 1: Loans with as low as 3.5% down payment and less stringent credit score requirements.
Key Benefits
Low down payment options
Current FHA borrowers can do a streamline refinance without an appraisal
Option of fixed-rate or adjustable-rate (ARM) loans
Worth Considering If You…
Lack a good credit history
Don’t have the funds available for a larger down payment
Mortgage Type
VA Mortgages
Government-backed loans offered exclusively to our valued members of the military.
Key Benefits
Lower or zero down payment needed
Mortgage insurance is not required
Flexible qualification guidelines
Fixed-rate and ARM options are available
Worth Considering If You…
Are an active military member or veteran
Are the surviving spouse of a service member and you haven’t remarried
Mortgage Type
Investment Property Mortgages
Loan program for individuals or families who plan to occupy a single-family home in a designated rural area as their primary residence.
Key Benefits
Competitive rates on fixed-rate loans
Higher loan amounts can be permitted
Worth Considering If You…
Live in a designated rural area
Don’t have the required funds for a down payment
Mortgage Type
Investment Property Mortgages
You choose the term of your mortgage based on what works for you.
Key Benefits
Competitive rates on fixed-rate loans
Higher loan amounts can be permitted
Worth Considering If You…
Want to take advantage of a lower rate but don’t want to extend the length of your loan
Would like your loan to sync up with a specific date, like your retirement
Mortgage Type
Investment Property Mortgages
Loans for a property used to produce a return on the investment.
Key Benefits
Competitive rates on fixed-rate loans
Higher loan amounts can be permitted
Worth Considering If You…
Have good credit
Possess substantial cash reserves
Are looking to invest or diversify your investment portfolio