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Refinance
This involves replacing your existing mortgage with a new one, typically to secure a lower interest rate, reduce monthly payments, or change the loan term without taking out additional cash.
Cash-Out Refinance
A specific type of refinance where you take out a new mortgage for more than what you currently owe and receive the difference in cash. This can be used for various expenses like home improvements, debt consolidation, or other financial needs.
Home Equity Loan
This is a second mortgage that allows you to borrow a lump sum of money against the equity in your home. It usually has a fixed interest rate and fixed repayment terms.
Home Equity Line of Credit (HELOC)
A revolving line of credit based on the equity in your home. Similar to a credit card, you can borrow and repay funds as needed during the draw period, typically with a variable interest rate.
Pre-purchase
Pre-Purchase counseling helps individuals understand the homebuying process, manage finances, improve credit, and make informed decisions about purchasing a home including downpayment assistance
CREDIT COACHING
HUD credit and financial counseling helps individuals manage finances, improve credit, and prepare for homeownership with personalized advice and strategies for financial stability and housing goals.
Foreclosure Prevention
Provides homeowners with strategies and support to avoid foreclosure, including personalized advice on managing finances, negotiating with lenders, and exploring alternatives to help them stay in their homes and achieve financial stability.