Conventional Refinancing

Conventional Refinance

Borrower’s with a great credit history looking to refinance their home with at least 5% equity may find a conventional refinance loan is the best choice. There are three types of conventional refinance loans. Rate & Term and Cash-Out refinancing are explained here, but HARP refinancing requires some extra qualifications which you can read about on its page. The first two options have the same qualifications as a standard conventional loan but operate differently. It is important to know the differences, and you can read about them below.

Rate & Term Refinance

This type of refinancing allows borrowers to adjust and consolidate the loan or loans used to purchase their home into a new loan with a shorter mortgage term and/or lower rates. Oceanside offers loans with terms ranging from 10 to 30 years, and borrowers can lower their interest rates and choose terms based on their individual preferences.

Cash-Out Refinance

Cash-out refinancing allows borrowers to use their current equity to take equity out of their property and use it however they see fit. Whether they have student loans, car payments, credit card debt, or another pressing matter to pay off, cash-out refinancing is good for borrowers who need flexibility in spending their money. This refinancing option allows the borrower to receive up to 80% of their home’s current value.

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Apply for a loan now

Contact Us

If you want to learn more about either of these refinancing options, call the experts at Oceanside today. We look forward to serving you. Oceanside Mortgage Company has loan officers ready to assist you 24 hours per day, 7 days per week. As a Better Business Bureau accredited business with an A+ rating, you’re sure to get the help you need with Oceanside. Call us today by clicking the button below, or call us at (800) 955-8965.

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55 Main St
Toms River, NJ 08753

Loan Servicing
(866) 680-5729

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Oceanside Mortgage Company is a private corporation. Oceanside Mortgage Company is not acting on behalf or at the direction of HUD/FHA/VA/USDA or the Federal Government. By refinancing your existing loan, your total finance charges may be higher over the life of the loan. NMLS# 80015 Visit the Nationwide Mortgage Licensing System & Registry consumer access website for licensing information: Website authorization by the New York State Department of Financial Services is pending. Until this website is authorized, no mortgage loan applications for properties located in New York will be accepted through this site. Arizona Bankers License # BK-0940196