Unlock Your Home's Equity

Compare refinancing and HELOC options to find the right solution for your financial goals in Michigan.

Licensed Mortgage Lender | NMLS #1880125

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Today's Mortgage Rates

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Rates are subject to change and may vary based on credit score, loan amount, and other factors. Data sourced from Freddie Mac's Primary Mortgage Market Survey®.

About Our Mortgage Services

Whether you're looking to lower your mortgage payments, consolidate debt, or tap into your home's equity for major expenses, we can help you find the right financing solution. Our experienced mortgage specialists serve homeowners throughout Michigan.

Why Consider Refinancing or a HELOC?

Mortgage Refinancing Benefits

Refinancing can help you take advantage of lower interest rates, reduce your monthly payments, or shorten the term of your mortgage. This can be particularly beneficial if:

  • Interest rates have dropped since you took out your original mortgage
  • Your credit score has improved significantly
  • You want to switch from an adjustable-rate to a fixed-rate mortgage
  • You want to pay off your home faster with a shorter loan term

Home Equity Line of Credit (HELOC)

A HELOC allows you to borrow against the equity you've built in your home. This option provides flexibility for:

  • Home improvements and renovations
  • Debt consolidation at lower interest rates
  • Education expenses
  • Emergency funds when you need them
  • Major purchases with flexible repayment

Compare Your Options: Refinance vs. HELOC

Feature Refinance HELOC
Purpose Replace existing mortgage with new terms, lower monthly payments Access cash as needed using home equity as collateral
Interest Rates Typically lower fixed rates available Variable rates that may change over time
Best For Reducing total interest paid over the life of the loan Flexibility for large or ongoing expenses
Loan Term 15, 20, or 30 years fixed Typically 10-20 year draw period
Closing Costs 2-5% of loan amount Usually lower than refinancing

Free Mortgage Calculators

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What Our Clients Say

"Thanks to my refinance, I lowered my mortgage payment by $200 a month! It was the best financial decision I've made. The team at Snabby made the process simple and stress-free."

— Jane D., Sterling Heights, MI

"The HELOC gave us the flexibility to renovate our kitchen without the hassle of a traditional loan. The draw period lets us access funds only when we need them. Highly recommend!"

— Mark R., Royal Oak, MI

Ready to Get Started?

Our mortgage specialists are here to help you find the best option for your situation.

Call (248) 236-5545

Licensed in Michigan | NMLS #1880125

Frequently Asked Questions

Most lenders require a minimum credit score of 620 for conventional refinancing. However, FHA loans may be available with scores as low as 580. A higher credit score typically qualifies you for better interest rates.

Most lenders require at least 15-20% equity in your home to qualify for a HELOC. This means you can typically borrow up to 80-85% of your home's value, minus what you still owe on your mortgage.

The refinancing process typically takes 30-45 days from application to closing. This includes time for appraisal, underwriting, and document preparation. We work to streamline the process and keep you informed every step of the way.

Typically, you'll need recent pay stubs, W-2 forms from the past two years, tax returns, bank statements, and information about your current mortgage. Self-employed applicants may need additional documentation such as profit and loss statements.
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