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All the nitty gritty about refinancing.
Can I get a home equity line of credit (HELOC) with Beeline?
Not yet. But you can achieve a very similar outcome through a traditional cash out refinance option.
Can I use Beeline to refinance a second home or investment property?
For sure, just select that property type early in the application and everything happens just as fast as an owner-occupied application.
What kind of refinance loans can I get with Beeline?
We offer refinance options for: Reducing your loan term Lowering your monthly payment Getting cash out When you refinance, we’ll pay off your existing home loan to reduce your interest rate, payment or term of the loan — hopefully all three. In a cash out refi, we’ll pay off your current home loan balance and increase the loan amount so additional funds can pay off debt or free up for personal use.
Can I use Beeline to refinance a condo?
Definitely, our condo programs are very popular.
Does Beeline charge prepayment penalties for refinance?
Nope. To us that seems like penalizing your success and makes no sense. If you’re ahead of the game and it shortens our relationship, we’re happy for you.
What is a refinance?
Refinancing a home loan involves taking out a new loan to pay off your original home loan. In many cases, homeowners refinance to take advantage of lower market interest rates, cash out a portion of their equity, or reduce their monthly payment with a longer payment term.
Can I use Beeline to refinance a mobile or manufactured home?
Not yet, but very soon.
Can you refi my home if it's owned by an LLC?
Unfortunately, no. We can’t refi a property that’s owned by a business — the home has to be owned by a person to do a refinance.
I’m doing a refinance, why do you need my banking information?
We ask for a couple of reasons. Some folks like to pay the closing costs out of pocket, other folks need to show cash reserves to qualify for a loan. Since we don’t know your situation at the start, it’s safer to ask for banking information in case it’s needed, rather than have to come back to you and ask later.
Can you refi my home if it's held in a trust?
No, we can't do a refinance while a property is held in trust.