Find the Refinance Option That Fits Your Goals
Talk with a licensed loan officer who takes the time to understand your situation before recommending anything.
Refinance options
Your Goal, Your Refinance Option
Homeowners refinance for different reasons. Here is how each goal typically works.
Lower Monthly Payment
Replace your current mortgage with a new rate or term that may lower what you pay each month, without changing your loan balance.
Cash-Out for Debt Consolidation
Use a portion of your home equity to pay off higher-interest debt and combine multiple payments into one mortgage payment.
Cash-Out for Home Improvement
Access a portion of your home equity to fund renovations or repairs, using your existing mortgage as the source of funds.
Switch from ARM to Fixed
Move from an adjustable-rate mortgage to a fixed-rate loan for a payment that does not change for the remainder of the term.
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Meet your loan officer
Mike Gill Jr.
Founder and CEO, NextGen Mortgage, Inc.
Our team, averaging over 15 years in the industry, partners with trusted local real estate agents and brokerages to provide service to their buyers. We work with over 30 banks and lenders to offer a range of options for each homeowner's specific refinance goal.
How it works
From Your Goal to Your New Loan
Tell us your goal
Select the refinance option that matches what you are trying to accomplish.
Share your mortgage details
A loan officer reviews your current loan and your available home equity.
Review your options
Compare refinance options across multiple lenders, matched to your stated goal.
Close on your new loan
Finalize the loan that fits your goal and move forward with your new terms.
There are more options than most homeowners know about
Refinancing is not one product. It is a wide set of programs, and the right one depends entirely on what you own, how you earn, and what you are trying to accomplish over the next several years.
Our licensed loan officers take the time to talk through your situation and your goals before recommending anything. Sometimes the answer is a refinance. Sometimes it is a second mortgage, a different program, or a different structure entirely. Either way, you will know what is available to you and the conversation costs nothing.
A holistic look, not a rate quote
We look at the whole picture: the mortgage you have, the equity you have built, other debt, your plans for the property, and where you want to be in five years. A rate on its own does not tell you whether a move is worth making.
More than 30 lenders behind us
As a broker, we place your loan with the lender whose program actually fits your file. That range is why homeowners who have been turned down elsewhere are still worth a conversation here.
A plan built around your situation
You will get a straight recommendation with the reasoning behind it, tailored to put you in the best position now and into the future, not a menu of products to choose from on your own.
Refinance, home equity loan, or HELOC
All three let you use the value in your home. The difference is what happens to the mortgage you already have, and that is usually the deciding factor.
Scroll the table sideways to compare →
| Cash-Out Refinance | Home Equity Loan | HELOC | |
|---|---|---|---|
| Your existing mortgage | Replaced entirely by the new loan | Stays exactly as it is | Stays exactly as it is |
| What rate applies | Today's rate, on your full balance | Today's rate, on the new amount only | Today's rate, on the new amount only |
| Rate type | Fixed or adjustable | Fixed | Usually variable, tied to the prime rate |
| Term | 8 to 30 years | 5 to 30 years | Draw period, then a repayment period |
| How you get the money | One lump sum at closing | One lump sum at closing | Draw what you need, when you need it |
| Common uses | Improving your rate and taking cash in one move | A renovation or payoff with a known price | Phased projects, tuition, or a standby reserve |
| Worth exploring when | Your current rate is at or above today's market | You hold a low rate and need a set amount | You hold a low rate and the final amount is unknown |
The question is not which product is best in general. It is which one fits the mortgage you already have and what you are trying to do with the money. That is a short conversation with a loan officer, and it is the fastest way to rule options in or out.
Which option fits your situation
Most homeowners arrive with one specific circumstance in mind and assume it rules them out. Usually it just points toward a different structure.
You hold a rate well below today's market
You locked something in 2020 or 2021 and you would rather not give it up. That instinct is usually right, and it does not mean the equity in your home is out of reach.
A home equity loan or HELOC sits behind your first mortgage and leaves that rate untouched. You borrow against the equity only, on the amount you actually need.
You may sell or move in a few years
A shorter time horizon changes which structures make sense, and it is one of the first things a loan officer should ask about.
Low-cost and lender-credit structures reduce what you pay up front, and a second lien can be the better fit when the property is not a long-term hold. We will lay out the timeline with you.
You are years into your current mortgage
The common worry is that refinancing means starting a 30-year clock over again. It does not have to.
Refinance terms run from 8 to 30 years, so your new loan can match the time you have left rather than reset it. Shorter terms often price better as well.
You are carrying high-interest debt
Credit cards, a vehicle, medical balances, or a business line — all at rates far above anything secured by real estate.
Consolidation can free up real monthly cash flow. We show you the total picture, not just the mortgage payment, so the trade-off is clear before you decide. Try the cash-out refinance calculator.
Your credit or income has changed
A dip in score, a recent move into self-employment, or a year of returns that does not reflect what you actually earn. Banks treat all three as a stop sign.
Portfolio and non-QM lenders set their own guidelines, and bank statement programs qualify you on deposits instead of returns. Being declined at one lender says very little about the other thirty.
Your payment went up but your rate did not
A New Hampshire specialty. When a town reassesses, escrow adjusts and the monthly payment climbs while the loan itself has not changed at all.
Sometimes the fix is an escrow review rather than a new loan, and we will tell you when that is the case. If a refinance does help, we will show you why.
Very few situations have no path at all. What changes from one homeowner to the next is which path, and that is what a loan officer works out with you before any application, and at no cost.
The programs available to you
Refinancing runs well past the conventional loan most homeowners picture. These are the paths we work with most often. One of them usually fits.
Conventional refinance
The familiar route: change your rate, shorten or lengthen your term, remove mortgage insurance, or take cash out. Fixed and adjustable options, on a wide range of terms.
It is the most common starting point, and worth pricing even when you assume the answer is no.
FHA refinance and FHA Streamline
If your current loan is FHA-insured, the Streamline path is built to be light, limited documentation and, in many cases, no new appraisal.
Standard FHA refinancing is also an option for homeowners whose credit or equity picture makes conventional financing a poor fit.
VA refinance and VA IRRRL
For eligible veterans, service members, and surviving spouses. The IRRRL, or Interest Rate Reduction Refinance Loan, is designed to be one of the simplest refinances available when you already hold a VA loan.
VA cash-out is the other side of it, and often allows access to more of your equity than conventional guidelines do.
Business bank statement programs
Built for owners and 1099 earners whose tax returns understate what they actually make. Qualifying income comes from deposits into your business or personal accounts instead of your returns.
This is one of the most common reasons a strong borrower gets declined at a bank and approved here. See our bank statement loan options.
DSCR for investment property
The property's rental income carries the loan rather than your personal income, which keeps your tax returns and debt-to-income out of the conversation entirely.
Useful for landlords holding several doors, and for the two- to four-unit properties common across southern New Hampshire.
Manufactured and mobile homes
Plenty of lenders will not touch these. We place them regularly, including older homes, homes in parks and co-ops, and homes on land you own.
If you have been told your home cannot be financed, it is worth a second opinion. See our manufactured home lending.
No income verification cash-out
In New Hampshire, we have access to a cash-out refinance on a primary residence that does not require income verification.
It is an unusual program, and it solves a real problem for homeowners with equity whose income is difficult to document. Details on our no income cash-out refinance page.
Non-QM and portfolio options
When a file does not fit an agency box, recent self-employment, unusual income, a property type most lenders avoid, portfolio lenders make their own rules.
Having more than 30 lenders available is what makes these placements possible.
Primary, second home, or investment
Refinancing is not limited to the home you live in. Each occupancy type has its own set of programs, and the right one changes with the property.
Primary residence
The widest range of programs, including streamline options and the New Hampshire no income verification cash-out.
Second home
Vacation and seasonal properties, including lake and mountain homes across New Hampshire and Maine.
Investment property
Single rentals through small multi-family, with DSCR and portfolio programs when personal income is not the right measure.
What you will be asked for
Most of this can be uploaded in a single sitting. Files where documents arrive in the first week close noticeably sooner.
Everyone
- Photo ID
- Your most recent mortgage statement
- Homeowners insurance declaration page
- Two months of bank statements
- Property tax bill
If you are a W-2 employee
- Two most recent pay stubs
- Two years of W-2 forms
- Two years of tax returns, if requested
If you are self-employed
- Business bank statements
- Profit and loss statement
- Business license or CPA letter
- Tax returns only if using a conventional program
Not every program asks for every item. Streamline and no income verification options require considerably less, and your loan officer will tell you exactly what your file needs before you gather anything.
Refinancing from our office in Nashua, New Hampshire
We are based on Trafalgar Square in Nashua and licensed across New Hampshire, Massachusetts, Maine, Florida, and Rhode Island. When you call, you reach a loan officer who works this market, not a national call center reading from a script.
Southern New Hampshire has its own refinance patterns. Property taxes here are among the highest in the country, so when a town reassesses, escrow accounts adjust and monthly payments jump without the interest rate changing at all. Homeowners often assume they need a new loan when what they actually need is an escrow review. We will tell you which one it is.
The housing stock is older than the national average, particularly in Nashua's established neighborhoods, so roofing, electrical, septic, and heating work drive a large share of equity requests. Depending on the mortgage you hold, that can point toward a cash-out refinance or toward a home equity loan, worth comparing before you commit to either.
We also work with a lot of borrowers who live in New Hampshire and commute into Massachusetts, owners of two, to four-unit properties where rental income supports qualification, and self-employed tradespeople whose tax returns understate what they actually earn. Each of those needs a different program, which is the reason we place loans through more than 30 lenders rather than one.
Refinance Options
Cash Out Refinance
Use your home's equity to pay off high-interest debt, lower your monthly payments, or finance home improvements with a Cash-Out Refinance.
No Income Cash Out Refinance
No Traditional Income Documentation Required.
Designed for Self-Employed Borrowers And Business Owners.
Lower your rate.
Keep more of your home's value.
See exactly what you'd save in 30 seconds — completely free to check, with zero impact on your credit score.
Get your free rate quote
Estimate only, based on a 30-year term.
Lock in this rate before it changes
No commitment — just hold your spot and we'll confirm the exact numbers with you.
100% free, no obligation, won't affect your credit score
Frequently Asked Question
What is the difference between a cash-out refinance, a home equity loan, and a HELOC?
A cash-out refinance replaces your existing mortgage with a new, larger one and gives you the difference in cash. A home equity loan and a HELOC leave your current mortgage exactly as it is and add a second loan behind it.
The deciding factor is usually the rate on the mortgage you already have. If it is at or above today's market, replacing it can make sense. If it is well below market, keeping it and borrowing against your equity separately is often the better structure. A home equity loan comes as one lump sum at a fixed rate; a HELOC lets you draw as you go, usually at a variable rate.
Can I access my home's equity without giving up my low mortgage rate?
Yes. A home equity loan or a HELOC sits behind your first mortgage and leaves that rate untouched, so you borrow only against the equity rather than repricing your entire balance.
This is the most common question we get from homeowners who bought or refinanced in 2020 and 2021, and in most of those cases a second lien is the better answer than a full refinance. Terms on a home equity loan run from 5 to 30 years.
Does refinancing mean starting a 30-year term over again?
No. Refinance terms run from 8 to 30 years, so a new loan can be written to match the time you have left rather than reset the clock.
Homeowners who are well into their current mortgage often assume a refinance would undo years of progress. It only does that if the loan is written at 30 years by default. Shorter terms also tend to price better, which is worth comparing before assuming 30 years is the answer.
Can I refinance if my income is hard to document?
Yes. Bank statement programs qualify you on deposits into your business or personal accounts instead of tax returns, and in New Hampshire we have access to a cash-out refinance on a primary residence that does not require income verification at all.
These programs exist because self-employed borrowers, business owners, and 1099 earners write off enough that their returns understate what they actually earn. That is a documentation problem, not a qualification problem, and it has solutions.
Can I refinance an investment property or a second home?
Yes. Both are eligible, and each has its own set of programs.
For investment properties, DSCR financing lets the property's rental income carry the loan rather than your personal income, which keeps tax returns and debt-to-income out of the picture. Second homes, including seasonal and lake properties across New Hampshire and Maine, refinance through conventional and portfolio programs depending on the file.
Can I refinance a manufactured or mobile home?
Yes. We finance manufactured and mobile homes regularly, including older homes, homes in parks and co-ops, and homes on land you own.
Many lenders decline these outright, which is why homeowners often assume the answer is no. It is worth a second opinion before you accept that, particularly in New Hampshire where park and co-op financing is available.
Can I refinance if a bank or credit union already turned me down?
Often, yes. A decline from one lender reflects that lender's guidelines, not the whole market.
As a broker we place loans through more than 30 lenders, including portfolio and non-QM lenders who set their own rules on income documentation, property type, and recent self-employment. Files that do not fit an agency box frequently fit somewhere else.
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