Most Richmond homeowners think refinancing is simple: call your bank, get a rate, sign some papers. That assumption costs thousands of dollars. In a rate environment where a single quarter-point difference on a $350,000 loan translates to real money every month for the next 30 years, the difference between a thoughtful refinance strategy and a reactive one is significant.
Here is what this guide is built to do: give you a decision-making framework, not a sales pitch. Whether you are in the City of Richmond, Chesterfield County, Henrico, or Hanover, the same principles apply. And if you are a homeowner in Virginia, Florida, Tennessee, or Georgia, this guide was written for you.
The central concept you will use throughout every strategy here is breakeven math. Before you lock a rate, before you sign anything, before you even talk to a lender, you need to know how many months it takes to recover your refinancing costs through monthly savings. That calculation tells you whether refinancing makes sense at all, and it keeps every other decision grounded in numbers rather than emotion.
Richmond homeowners also have more lender access than most realize. Through a single NoTouch Credit inquiry, meaning no credit score impact, it is possible to compare options from hundreds of lenders simultaneously. That access changes the outcome. Most people shop one or two lenders and leave money on the table.
This guide covers seven proven strategies, each with worked examples, structured comparison tables, and honest assessments. Your author is Duane Buziak, Mortgage Maestro, NMLS #1110647, licensed in Virginia, Florida, Tennessee, and Georgia. Let’s get into it.
1. Run the Breakeven Math Before You Do Anything Else
The Challenge It Solves
Refinancing costs money upfront. Closing costs typically run between 2% and 5% of the loan amount, and if you sell or refinance again before recovering those costs through monthly savings, you lose money on the transaction. The breakeven calculation is the only honest way to evaluate whether refinancing makes financial sense for your specific situation.
The Strategy Explained
The formula is straightforward: divide your total closing costs by your projected monthly savings. The result is the number of months you need to stay in the home before the refinance pays for itself. If you plan to sell before that point, refinancing at a lower rate may still cost you net dollars.
Here is a fully worked example, labeled clearly for illustration purposes only.
Illustration: Richmond Homeowner Refinance Scenario
Remaining loan balance: $350,000. Current rate: 7.25% on a 30-year fixed. New rate: 6.50% on a 30-year fixed. Estimated closing costs: 2.5% of loan amount.
Step 1: Calculate current monthly principal and interest payment at 7.25%. Using standard amortization: $350,000 at 7.25% for 360 months = approximately $2,388 per month.
Step 2: Calculate new monthly principal and interest payment at 6.50%. $350,000 at 6.50% for 360 months = approximately $2,213 per month.
Step 3: Monthly savings = $2,388 minus $2,213 = $175 per month.
Step 4: Closing costs = 2.5% of $350,000 = $8,750.
Step 5: Breakeven = $8,750 ÷ $175 = 50 months (approximately 4 years and 2 months).
For illustration purposes only. Actual rates, payments, and costs vary by borrower, lender, and market conditions.
Implementation Steps
1. Pull your current loan statement to confirm your remaining balance and interest rate.
2. Estimate closing costs using the 2–5% range as a working figure, then get a Loan Estimate from a lender to confirm actual costs.
3. Use the formula: Closing Costs ÷ Monthly Savings = Breakeven Months.
4. Compare your breakeven result to your realistic timeline in the home. If you plan to sell in three years and your breakeven is four years, the math does not support refinancing at current costs.
5. Revisit this calculation if your rate offer changes or if you negotiate lower closing costs.
Breakeven Reference Table
Closing Costs vs. Monthly Savings Breakeven (Illustrative)
$5,000 closing costs / $100/mo savings: 50 months (4.2 years)
$5,000 closing costs / $150/mo savings: 33 months (2.8 years)
$7,500 closing costs / $150/mo savings: 50 months (4.2 years)
$7,500 closing costs / $200/mo savings: 37.5 months (3.1 years)
$10,000 closing costs / $200/mo savings: 50 months (4.2 years)
$10,000 closing costs / $300/mo savings: 33 months (2.8 years)
All figures are illustrative. Use your actual loan details and a current Loan Estimate for accurate calculations.
Pro Tips
If a lender offers a no-closing-cost refinance, recognize that the costs are typically rolled into a slightly higher rate. Run the breakeven on that version too, because the right structure depends on how long you plan to hold the loan. Neither structure is universally better. The math tells you which one wins for your situation. Richmond homeowners looking for a broader view of affordable home loan strategies in Richmond will find that the same breakeven logic applies across purchase and refinance decisions.
2. Shop Hundreds of Lenders — Not Just One or Two
The Challenge It Solves
The single most expensive mistake Richmond homeowners make during a refinance is accepting the first rate they receive. Most people contact their current servicer or one local bank, get a quote, and proceed. That approach eliminates the competitive pressure that produces better rates and lower fees. The difference between a 6.75% and a 6.50% rate on a $300,000 loan is not trivial over 30 years.
The Strategy Explained
A mortgage broker with access to hundreds of lenders can submit your loan profile to multiple lenders simultaneously through a single NoTouch Credit inquiry, meaning your credit score is not impacted during the shopping process. This is structurally different from calling five lenders individually, where each hard inquiry can affect your score. The broker model creates genuine competition on your behalf.
Large national direct lenders like Rocket Mortgage, PennyMac, and Freedom Mortgage each offer their own product set. When you apply directly with one of them, you see one lender’s pricing. A broker model compares across hundreds of wholesale lenders, including options those direct lenders cannot offer. Understanding how to compare multiple mortgage lenders at once without hurting your credit is one of the most valuable skills a Richmond borrower can develop.
Implementation Steps
1. Before contacting any lender, request that your inquiry be handled as a soft credit pull or Vantage Score 4.0 inquiry to protect your score during initial rate exploration.
2. Ask any lender or broker how many wholesale lenders they have access to. The answer reveals the scope of your options.
3. Collect at minimum three Loan Estimates (the standardized federal form) to compare APR, closing costs, and rate side by side.
4. Pay attention to APR, not just the stated interest rate. APR incorporates fees and gives you a more complete picture of total cost.
5. Bring competing Loan Estimates to your preferred lender and ask them to match or beat the terms.
Rate Payment Comparison Table (Illustrative)
Based on a $300,000 30-year fixed loan. For illustration purposes only. Actual rates vary by borrower profile, lender, and market date.
Rate 6.25%: Estimated monthly P&I = approximately $1,847
Rate 6.50%: Estimated monthly P&I = approximately $1,896
Rate 6.75%: Estimated monthly P&I = approximately $1,946
Rate 7.00%: Estimated monthly P&I = approximately $1,996
Rate 7.25%: Estimated monthly P&I = approximately $2,047
The difference between 6.25% and 7.25% on a $300,000 loan is approximately $200 per month, or $72,000 over 30 years. That is the financial argument for aggressive rate shopping. For a structured breakdown of how Richmond lenders compare across rate, fees, and service, the guide to comparing mortgage lenders in Richmond, VA walks through exactly what to evaluate.
Pro Tips
When comparing lenders, ask each one to provide a Loan Estimate on the same loan scenario: same loan amount, same term, same property. This is the only apples-to-apples comparison. Verbal rate quotes without a Loan Estimate are not binding and are not a reliable basis for comparison.
3. Understand How Your Credit Score Shapes Your Richmond Refinance Rate
The Challenge It Solves
Many Richmond homeowners assume they need a 700+ credit score to refinance. Others have been told by a bank that their score disqualifies them entirely. Both assumptions can be wrong. Credit score is one of the most significant pricing factors in mortgage lending, but the range of programs available, and the lenders willing to work within that range, is wider than most borrowers know.
The Strategy Explained
Conventional refinance programs (Fannie Mae and Freddie Mac) typically require a minimum score of 620. FHA refinance programs, as documented in HUD guidelines, allow scores as low as 500 with a 10% equity requirement, and 580 with standard terms. Non-QM and portfolio lenders can work with scores in the 500s as well, though pricing reflects the additional risk.
The NoTouch Credit solution uses Vantage Score 4.0 for initial pre-qualification, which does not impact your FICO score. This allows you to understand your rate options before committing to a full application, protecting your score during the exploration phase. Richmond homeowners who want to understand the full soft pull process can review how soft pull mortgage prequalification works before starting any application.
Implementation Steps
1. Check your credit score through a free service (your bank, credit card issuer, or annualcreditreport.com) before starting the refinance process.
2. Review your credit report for errors. Disputing inaccurate items is one of the fastest ways to improve your score before applying.
3. Avoid opening new credit accounts or making large purchases in the 60–90 days before a refinance application.
4. Ask your mortgage professional about credit restoration pathways if your score is below your target tier. Some borrowers can improve their score meaningfully within 30–60 days with targeted guidance.
5. Use a NoTouch Credit inquiry for initial rate exploration so your score is not affected during the shopping phase.
Credit Score Tier Reference Table
General program eligibility by credit tier. Actual eligibility depends on full borrower profile, LTV, and lender guidelines. For educational reference only.
Excellent (740+): Qualifies for best conventional pricing; widest lender access; lowest rate tiers available.
Good (680–739): Qualifies for conventional programs with competitive pricing; most lenders accessible.
Fair (620–679): Conventional programs available with pricing adjustments; FHA programs accessible at favorable terms.
Challenged (580–619): FHA programs accessible per HUD guidelines; some non-QM options available; conventional pricing less competitive.
Rebuilding (500–579): FHA programs accessible with 10% equity per HUD guidelines; non-QM and portfolio lenders available; conventional programs generally not accessible at this tier.
Pro Tips
If a bank or credit union has told you your score disqualifies you, that reflects their specific program requirements, not the entire market. A broker with access to hundreds of lenders, including non-QM and portfolio programs, often has options that a single-institution lender cannot offer. Borrowers who need to rebuild their score before refinancing can explore structured credit restoration programs designed to accelerate eligibility. The answer from one lender is not the answer from the market.
4. Know Which Refinance Type Matches Your Goal
The Challenge It Solves
Refinancing is not one product. It is a category of loan structures, each designed to serve a different financial objective. Richmond homeowners who do not understand the distinctions often pursue the wrong refinance type for their goal, sometimes leaving equity on the table or paying for features they do not need.
The Strategy Explained
The three primary refinance structures are rate-and-term, cash-out, and streamline. Each serves a distinct purpose. For self-employed Richmond homeowners, the Bank Statement HELOC adds a fourth option worth understanding separately.
Rate-and-term refinancing replaces your existing loan with a new one at a different rate, different term, or both, without changing the loan balance materially. This is the right tool when your goal is to reduce your monthly payment or shorten your payoff timeline.
Cash-out refinancing replaces your existing loan with a larger one, and you receive the difference in cash. This is the right tool when you need to access home equity for home improvements, debt consolidation, or investment. For a complete walkthrough of how this process works in Richmond, the cash-out refinance guide for Richmond, VA covers every step from application to closing. Cash-out refinances through certain non-QM and portfolio programs are available up to 90% LTV, which is meaningfully higher than the 80% LTV ceiling on most conventional cash-out programs.
Streamline refinancing (FHA Streamline or VA IRRRL) is a simplified process for borrowers who already have an FHA or VA loan. These programs reduce documentation requirements and, in some cases, eliminate the need for a new appraisal. They are designed specifically for rate reduction and are not available for cash-out purposes.
Refinance Type Comparison Table
Based on publicly available FHA, VA, and conventional program guidelines. Non-QM program terms vary by lender. For educational reference only.
Rate-and-Term Refinance: Goal: lower rate or shorter term. Max LTV: typically 97% conventional, 97.75% FHA. Cash out: No. Credit minimum: 620 conventional, 580 FHA. Documentation: Full.
Cash-Out Refinance (Conventional): Goal: access equity. Max LTV: typically 80%. Cash out: Yes. Credit minimum: 620. Documentation: Full.
Cash-Out Refinance (Non-QM/Portfolio): Goal: access equity beyond conventional limits. Max LTV: up to 90% (program-specific). Cash out: Yes. Credit minimum: Varies by lender; 500s possible. Documentation: Varies; bank statements accepted.
FHA Streamline: Goal: lower rate on existing FHA loan. Max LTV: N/A (no appraisal typically required). Cash out: No. Credit minimum: Lender-specific; FHA minimum applies. Documentation: Reduced.
VA IRRRL: Goal: lower rate on existing VA loan. Max LTV: N/A. Cash out: No. Credit minimum: Lender-specific. Documentation: Reduced.
Bank Statement HELOC: Goal: access equity; designed for self-employed borrowers. Max LTV: Program-specific. Cash out: Yes. Credit minimum: Varies. Documentation: Bank statements in lieu of tax returns.
Implementation Steps
1. Define your primary goal before contacting any lender: reduce payment, shorten term, access cash, or simplify an existing government loan.
2. Confirm whether you currently have an FHA or VA loan, as streamline options may be available and worth comparing.
3. If you are self-employed and have been declined based on tax return income, ask specifically about bank statement programs.
4. For cash-out goals, ask lenders about their maximum LTV and whether non-QM programs are available to you.
Pro Tips
The 90% LTV cash-out option is not available through every lender. It requires a non-QM or portfolio product. If you need to access more than 80% of your home’s value, confirm upfront that the lender you are speaking with actually offers this structure, not just conventional cash-out.
5. Time Your Rate Lock Strategically
The Challenge It Solves
Mortgage rates change daily. Once you find a rate you want to proceed with, the rate lock is what protects you from market movement during the closing process. But rate locks are not free: longer lock periods typically cost more, either as an explicit fee or built into a slightly higher rate. The faster your lender can close, the shorter the lock period you need, and the better your rate can be.
The Strategy Explained
Rate lock periods typically come in 15-day, 30-day, 45-day, and 60-day increments. A 60-day lock on the same loan will generally carry a higher rate than a 30-day lock, because the lender is absorbing more market risk. If your lender can close in 15–21 days, you may qualify for the shortest and most favorable lock tier.
This is one of the structural advantages of the broker model versus large national lenders. Direct lenders with centralized processing often have 45–60 day close timelines as a baseline. A broker working with an efficient wholesale lender can, in many cases, close in 21 days or fewer, which means a shorter lock period and potentially a meaningfully better rate. Reviewing how the best mortgage lenders in Richmond, VA structure their close timelines can help you ask the right questions before committing to a lender.
Close Speed and Rate Lock Comparison (Structural Overview)
For educational reference. Actual timelines vary by transaction complexity, documentation completeness, and lender capacity.
Large National Direct Lender (e.g., Rocket Mortgage, PennyMac): Typical close timeline: 30–45 days. Rate lock typically needed: 45-day. Pricing impact: Higher rate tier for longer lock.
Regional Bank or Credit Union (e.g., local Richmond institutions): Typical close timeline: 30–60 days. Rate lock typically needed: 45–60 day. Pricing impact: Longest lock period, most rate exposure.
Mortgage Broker / Wholesale Model: Typical close timeline: 15–30 days (transaction-dependent). Rate lock typically needed: 15–30 day. Pricing impact: Shorter lock = lower rate tier possible.
Implementation Steps
1. Ask every lender you speak with: “What is your average close time for a refinance, and what lock period does that require?”
2. Confirm whether your rate lock is float-down eligible, meaning if rates drop after you lock, you may be able to capture the lower rate under certain conditions.
3. Have all documentation ready before you lock: pay stubs, tax returns, bank statements, homeowner’s insurance, and current mortgage statement. Documentation delays extend your close time and may require a lock extension.
4. Ask about lock extension fees if your close extends beyond the lock period. These can be significant and are worth understanding upfront.
Pro Tips
The relationship between close speed and rate is real but often invisible to borrowers. Ask specifically: “If you can close in 21 days, what is my rate versus a 45-day lock?” The answer may surprise you. Speed is not just a convenience; it is a pricing factor.
6. What to Do When a Bank or Credit Union Turns You Down
The Challenge It Solves
A denial from a bank or credit union is not a denial from the mortgage market. It is a denial from one institution with one set of underwriting guidelines. Richmond homeowners who stop at that point miss the fact that hundreds of other lenders, including non-QM and portfolio lenders, operate under entirely different criteria. The denial is a data point, not a verdict.
The Strategy Explained
Banks and credit unions typically use conventional or government-backed underwriting guidelines, which have specific requirements around credit score, debt-to-income ratio, income documentation, and property type. When a borrower does not fit those boxes, the institution declines the loan. But the boxes are institution-specific, not universal.
Non-QM (non-qualified mortgage) lenders and portfolio lenders write their own underwriting guidelines. This allows them to serve borrowers who are self-employed with complex tax returns, recently changed jobs, have had a past credit event, or own non-warrantable properties. The trade-off is typically a higher rate than a conventional loan, but the loan exists where a conventional loan does not. Self-employed Richmond homeowners who have been declined based on tax return income should review the self-employed mortgage guide for Richmond, VA to understand which programs are specifically designed for their income documentation structure.
Common Turndown Scenarios and Alternatives
Self-employed income: Banks often require two years of tax returns showing consistent income. Non-QM bank statement programs use 12–24 months of bank deposits to qualify income instead. This is a documented, available program structure, not a workaround.
Credit score below 620: Conventional programs close at 620. FHA programs, per HUD guidelines, allow scores to 500 with appropriate equity. Non-QM lenders may work with scores in the 500s depending on compensating factors.
High debt-to-income ratio: Conventional programs cap DTI at approximately 45–50%. Some non-QM programs allow higher DTI with strong compensating factors such as significant reserves or low LTV.
Recent credit event: Bankruptcy, foreclosure, or short sale typically requires a waiting period under conventional guidelines (2–7 years depending on event and loan type). Some non-QM programs have shorter seasoning requirements.
Implementation Steps
1. When you receive a denial, ask the lender specifically which underwriting requirement you did not meet. This tells you exactly what alternative program to look for.
2. Bring that denial reason to a mortgage broker with non-QM access and ask: “Do you have a program that addresses this specific issue?”
3. Ask about the rate difference between the non-QM option and a conventional loan. If you can improve the disqualifying factor within 6–12 months, it may be worth waiting for a better rate tier.
4. Do not apply to multiple lenders individually after a denial. Use a single NoTouch Credit inquiry through a broker to explore your options without additional score impact.
Frequently Asked Questions
Q: If one bank turned me down, can another lender actually approve me?
A: Yes. Bank underwriting guidelines are institution-specific. Non-QM and portfolio lenders operate under different criteria and serve borrower profiles that fall outside conventional guidelines. A broker with access to hundreds of lenders can identify which programs you qualify for based on your specific situation.
Q: Will shopping for a refinance after a denial hurt my credit score?
A: Not if you use a NoTouch Credit or soft credit inquiry for initial qualification. A broker using Vantage Score 4.0 for pre-qualification does not generate a hard inquiry on your credit report.
Q: Are non-QM loans legitimate?
A: Yes. Non-QM loans are a recognized loan category regulated by the Consumer Financial Protection Bureau (CFPB). They are not the same as the subprime loans of the pre-2008 era. They serve specific borrower profiles with specific documentation structures and are offered by licensed lenders.
Pro Tips
Note: If you encounter Colonial 1st Mortgage in Richmond or Glen Allen directory listings, be aware that the Better Business Bureau lists this business as out of business, and their domain no longer resolves to a functioning mortgage company website. Their most recent Yelp review dates to 2017. Always verify current licensing status at nmlsconsumeraccess.org before making contact with any lender you find in older directory listings.
7. Compare Richmond Refinance Lenders Side by Side — What to Actually Ask
The Challenge It Solves
Most borrowers evaluate lenders on rate alone, which misses closing costs, lender access, credit flexibility, and close speed. The right questions reveal structural differences that matter as much as the rate itself. This section gives you a framework for honest, informed comparison.
The Strategy Explained
The Richmond refinance market includes national direct lenders, regional banks, credit unions, and independent mortgage brokers. Each operates under a different model, and the model determines what you can access. Understanding the structural difference between a direct lender and a broker is the starting point for meaningful comparison.
A direct lender (Rocket Mortgage, CapCenter, Alcova Mortgage, Movement Mortgage, Fairway Independent Mortgage, CrossCountry Mortgage, C&F Mortgage, River City Lending, and others) offers their own products. Their pricing reflects their own cost structure and product set. They may be excellent at what they offer. The limitation is that you are seeing one lender’s menu. For a comprehensive look at how Richmond’s top mortgage lending companies stack up across rate, fees, and program access, the top mortgage lending companies in Richmond, VA comparison covers the full landscape.
A mortgage broker submits your loan to multiple wholesale lenders and presents you with competing options. The broker model introduces competition that a single direct lender cannot replicate internally.
Questions to Ask Any Refinance Lender
1. “How many lenders do you have access to, and are you a direct lender or a broker?”
2. “What is your minimum credit score for a refinance, and do you have non-QM options for scores below 620?”
3. “What is your average close time for a refinance, and what lock period does that require?”
4. “Can I get a Loan Estimate before a hard credit inquiry is run?”
5. “What is the APR on this loan, and what fees are included in that calculation?”
6. “What is your maximum LTV for a cash-out refinance?”
7. “Do you have bank statement programs for self-employed borrowers?”
Lender Model Comparison Table
For educational reference. Characterizations are based on publicly available information about lender models. Individual loan officers within any company may vary. This is not a ranking or endorsement.
Richmond Mortgages (Duane Buziak, NMLS #1110647): Model: Mortgage Broker. Lender access: Hundreds of wholesale lenders. Credit minimum: 500 (FHA/non-QM programs). Cash-out max LTV: Up to 90% (non-QM). Close speed: Among fastest available. Credit inquiry: NoTouch / Soft pull for pre-qualification. Bank statement programs: Yes. States: VA, FL, TN, GA.
Rocket Mortgage: Model: Direct lender. Lender access: Own products. Credit minimum: Publicly stated 580 (FHA); 620 conventional. Cash-out max LTV: Conventional limits apply. Close speed: Advertises fast close; 30-day typical. Credit inquiry: Hard pull for application. Bank statement programs: Limited non-QM availability.
CapCenter (Richmond-based): Model: Direct lender. Lender access: Own products. Credit minimum: Conventional guidelines. Cash-out max LTV: Conventional limits. Close speed: Standard. Credit inquiry: Standard application process. Bank statement programs: Not a primary offering.
Movement Mortgage / Alcova Mortgage / Fairway Independent: Model: Direct lenders / retail originators. Lender access: Own products and select wholesale. Credit minimum: Conventional and FHA guidelines. Cash-out max LTV: Conventional limits; some FHA cash-out available. Close speed: Varies by branch and pipeline volume. Credit inquiry: Standard application process. Bank statement programs: Varies by individual loan officer.
River City Lending / Sparrow Home Loans / 804 Mortgage: Model: Local broker or direct lender. Lender access: Varies. Credit minimum: Varies by program access. Close speed: Varies. Bank statement programs: Varies.
Implementation Steps
1. Use the questions above as a structured intake framework when you speak with any lender, including us. The answers reveal capability and transparency.
2. Request a Loan Estimate from at least three lenders on the same loan scenario. Compare APR, not just rate.
3. Verify any lender’s current license status at nmlsconsumeraccess.org before proceeding. This is especially important for smaller local firms or names you find in older directory listings.
4. Ask specifically about programs that match your credit profile and goal. A lender who cannot answer clearly about their non-QM options or maximum LTV is telling you something about their product range.
Pro Tips
The honest differentiator in the broker model is competition. When one lender knows you are comparing multiple offers, pricing improves. When you apply to a single direct lender, that competitive pressure does not exist. The Loan Estimate is your tool for creating that pressure, even after you have received your first offer.
Your Richmond Refinance Implementation Roadmap
Seven strategies, one sequential process. Here is how they connect into a practical checklist for Richmond homeowners ready to move forward.
Step 1: Run the breakeven math first. Use the formula: Closing Costs ÷ Monthly Savings = Breakeven Months. Compare that number to your realistic timeline in the home. If the math does not work, the right answer is to wait.
Step 2: Check your credit score without impacting it. Use a soft pull or Vantage Score 4.0 inquiry to understand your starting point. Review your credit report for errors before applying anywhere.
Step 3: Identify your refinance goal. Rate reduction, term change, cash access, or streamline on an existing government loan. Your goal determines which loan type to pursue.
Step 4: Shop multiple lenders through a single NoTouch Credit inquiry. Do not apply individually to five lenders. Use a broker with access to hundreds of lenders to create competition on your behalf with one credit-safe inquiry.
Step 5: Compare Loan Estimates on the same scenario. APR, not just rate. Closing costs matter as much as the rate itself.
Step 6: Ask about close speed and lock period. Faster close = shorter lock = potentially better rate. Confirm your documentation is complete before locking.
Step 7: If you have been turned down before, ask about non-QM options. Credit scores down to 500 are accepted through FHA and non-QM programs. Bank statement programs exist for self-employed borrowers. A single bank’s denial is not a market verdict.
The NoTouch Credit pre-qualification at Richmond Mortgages allows you to see real rate options from hundreds of lenders with zero credit score impact. It is the lowest-risk starting point for any Richmond homeowner considering a refinance in 2026. Get prequalified today and see what the full market can offer you.
Cash-out refinances are available up to 90% LTV through select non-QM programs. Credit scores down to 500 are accepted. Virginia, Florida, Tennessee, and Georgia borrowers are served.
Legal Disclaimer: This content is for educational purposes only and does not constitute financial or legal advice. Loan programs, rates, and guidelines are subject to change. All loans are subject to credit approval and underwriting. Programs referenced include FHA, VA, conventional, and non-QM products. FHA guidelines referenced are publicly available through HUD.gov. VA loan guidelines referenced are publicly available through VA.gov. Rate and payment examples are illustrative only and do not represent a loan offer or commitment. Richmond Mortgages is licensed to originate mortgage loans in Virginia, Florida, Tennessee, and Georgia only. This content does not target borrowers in any other state.
Duane Buziak, Mortgage Maestro | NMLS: 1110647 | Licensed in VA · FL · TN · GA | VA Broker of the Year 2024–2025 | Top 1% Nationwide | Coast2Coast Mortgage | DuaneBuziakMortgageMaestro.com | (804) 212-8663