Refinance & equity
Refinancing: start with the outcome you want.
Clarify your goal, current debt and property use before comparing a replacement loan.
Name the financing goal
A refinance conversation might start with a payment concern, a change in loan structure or a need to access equity. Explain which outcome matters most and how long you expect to keep the property.
Keep the property’s use clear. Your own home belongs in Reside; a business-purpose investment property belongs in Invest. Documentation options alone do not decide the route.
Distinguish the new loan from cash received
Bring an estimated property value and proposed total loan amount. If you owe money on the property, include approximate first- and second-lien payoffs when available, or state that it is free and clear.
The new loan amount is not the same as cash you receive. Existing debt being paid off, financed costs and the transaction structure affect the proceeds. A percentage of property value is a requested scenario, not confirmed available equity.
Compare the full picture
Ask for a comparison of payment, costs, remaining term and balance over the period you expect to hold the loan. Discuss any early-payoff terms on the current or proposed financing. Future refinancing should not be treated as a guaranteed exit.
You can leave payoff estimates blank in the initial income-review form if you do not have them. Luke can discuss what is needed next; a lender’s review determines the actual terms and documentation.
Put this into your own scenario.
RESIDE
A home I’ll live in
Edge Home Finance, LLC
Explore home financingTalk with Luke →INVEST
A business-purpose property
KMN LLC
Explore investment financingTalk with Luke →