Top Flite Financial offers mortgage refinancing to borrowers looking to change their loan terms or get a more affordable monthly payment. Some borrowers also refinance to convert their equity into cash. There are several refinance options to choose from, and you don’t need perfect credit to qualify.
About Top Flite Financial
Top Flite Financial is a mortgage lender specializing in cash-out refinances. But unlike traditional lenders, it caters to homeowners with lower credit scores. Known as one of the most prominent financial lenders in the mortgage industry, it also offers purchase loans, reverse mortgages and home equity loans to borrowers with varying financial backgrounds.
What is a Cash-Out Refinance?
A cash-out refinance is a mortgage loan that lets you pull out a portion of your home equity and convert it into cash. You can use the loan proceeds however you see fit.
It involves replacing your current mortgage with a new one that includes your current balance and the amount you borrow. To illustrate, assume your home is worth $425,000, and you owe $225,000 on the mortgage. So you apply for a cash-out refinance, and the lender allows you to pull out 85 percent of your home equity.
You’d get $136,250 in cash (minus applicable fees) following closing ($425,000 * .85 – $225,000). The lender will also pay off your current mortgage of $225,000 and replace it with a new mortgage of $361,250 ($225,000 + $136,250). When the loan payments resume, you’ll make payments to the new lender.
How Does Top Flite Financial Mortgage Work?
Top Flite Financial provides a variety of mortgage loan options, catering to your unique needs. As a client, you’ll be paired with experienced mortgage professionals who will get to know you and your financial situation before suggesting the best mortgage options for you.
If you’re interested in applying for a mortgage, the first step is to review the available loan options, including FHA loans, VA loans, USDA loans, conventional mortgages, jumbo loans, fixed-rate loans and non-QM mortgages. Top Flite Financial takes pride in offering comprehensive choices to cater to different requirements and financial situations.
To begin the application process, you’ll need to gather the necessary documentation, such as tax returns, pay stubs and bank statements. This information will help lending specialists from the Top Flite Financial team assess your creditworthiness and evaluate your financial situation. Don’t worry if your credit score is less than perfect, though. Top Flite Financial specializes in helping homeowners with past credit challenges achieve their homeownership financial goals.
Once your application is submitted, Top Flite Financial’s team will assess your documentation, credit history and overall financial situation to determine which loan programs you qualify for. They’re known for providing exceptional customer service, which is evidenced by their spot on LendingTree’s top-10 rankings for customer satisfaction.
Upon approval, the Top Flite team will guide you through the mortgage process, from selecting the right loan program to finalizing the closing. The lender takes pride in providing a smooth experience from start to finish.
Top Flite Financial Mortgage Refinance Reviews
Here’s what others are saying about Top Flite Financial:
- The service provided by Top Flite Financial was top-notch. They made every step of the process easy and stress-free and went the extra mile to help me. I highly recommend this team of professionals. —Chris B. (BBB review)
- Top Flite Financial is absolutely amazing. They’re the best refinancing company I’ve ever worked with. I was a bit worried about the online application process, but the lending team put my mind at ease. They were amazing to work with from start to finish. This lender is truly the best in business. —Scott J. (BBB review)
- I recently found myself in a situation with limited funds but a ton of equity. Top Flite Financial was able to quickly process my loan application and help me get the funding I needed. They are also very responsive, kind, courteous and informative. Thank you! —Eric H. (BBB review)
- My wife and I were nervous when we started the process due to our shaky credit history. However, the loan officer explained the entire process from start to finish the day we connected with her, and everything went smoothly. Communication was also excellent, and they followed through on their promises. We’re so excited about everything and couldn’t have access or a smoother loan process. Thank you, Top Flite Financial. —Shaka S. (BBB review)
- I’ll be the first to admit I was a bit worried about making the wrong decision when I started researching the possibility of refinancing my home. I had no idea where to start or if I should move forward. But when I reached out to Top Flite Financial and was contacted by a loan officer, all my fears and worries went away. He was amazing to work with and made the process so simple. I’m extremely grateful for the opportunity to have worked with such a wonderful team, and I know I made the right decision to refinance my home. Many thanks to the Top Flite Financial team. Top Flite Financial literally saved me thousands of dollars. —Elizabeth V. (BBB review)
The Benefits of Top Flite Financial’s Cash Out Refinance
If you’re considering a cash-out refinance from Top Flite Financial, there are several advantages to keep in mind:
- Relaxed credit guidelines. You could get approved for a cash-out refinance with a lower credit score than many traditional lenders are willing to accept.
- Availability. Top Flite Financial serves homeowners in all 50 states.
- Fixed interest rates. Cash-out refinances come with fixed interest rates, giving you a predictable monthly principal and interest payment.
- Loan terms. Choose from a loan term between 10 and 30 years.
- Flexible use. You’re free to use the loan proceeds however you see fit, whether it’s to consolidate high-interest debt, upgrade your home or cover an unexpected expense.
- Personalized support. You’ll receive personalized support from a Client Success Manager throughout the lending process to ensure it goes smoothly as well as quickly.
What Are the Requirements to Refinance Your Mortgage with Top Flite Financial?
Eligibility guidelines to refinance your mortgage with Top Flite Financial depend on the type of loan you select and your individual financial situation. A Top Flite Loan Officer can help you determine which option best fits your financial situation and mortgage needs.
Generally, lenders will consider factors such as your credit score, debt-to-income ratio, employment history and the value of your home when determining your eligibility for refinancing. You may also need to provide documentation such as tax returns, pay stubs, and bank statements.
What Are the Costs and Fees Involved in Refinancing Your Mortgage with Top Flite Financial?
As with any mortgage refinancing, there are costs and fees involved when working with Top Flite Financial. The exact amount of these costs and fees will depend on the type of refinancing you select. It is important to consult with a lending professional from the Top Flite Financial team to learn more about the costs and fees associated with refinancing your home loan.
A recent Bankrate study revealed that the average refinance closing costs are $2,375, excluding any taxes, and you can generally expect to pay 2 percent to 5 percent of the loan principal amount in closing costs. Other costs may include an application fee, appraisal fee, credit report fee, and title search and insurance fees.
However, it is important to note that Top Flite Financial may offer different rates and fees based on your specific financial situation and the type of refinancing you choose. Therefore, it’s best to speak with a lending professional to get a more accurate estimate of the costs and fees involved in refinancing your mortgage with Top Flite Financial. You can also learn more about specific fees and costs that could apply to some mortgages but not others.
Who is Top Flite Financial Mortgage Refinance Best For?
Top Flite Financial Mortgage Refinance is most suitable for credit-challenged borrowers who’ve had trouble getting approved elsewhere. The lender is known throughout the industry for its relaxed credit guidelines. So, if others have turned you down for refinancing, you could be in luck with Top Flite Financial.
What Other Mortgage Loans Does Top Flite Financial Offer?
The lender offers an assortment of other mortgage products, including:
- FHA loans: ideal for home buyers with past credit challenges or less-than-perfect credit and lower incomes seeking a low down-payment solution
- First-time home buyer mortgages: designed for prospective buyers unfamiliar with the mortgage process
- Fixed-rate mortgages: provide a predictable principal and interest payment
- HARP loans: a flexible solution for homeowners having trouble refinancing due to a decline in their property values
- Home equity loans: let you convert your home equity into cash
- Jumbo mortgage loans: most ideal for home buyers seeking loans that exceed the conforming loan limit
- Reverse mortgage loans: reserved for seniors aged 62 years or older
- USDA loans: designed for individuals and families looking to purchase in rural areas
- VA loans: caters to members of the U.S. armed forces and qualifying relatives
How Does Top Flite Financial Mortgage Refinance Compare?
When considering a mortgage refinance, it’s essential to compare your options. Top Flite Financial stands out as a mortgage lender that specializes in cash-out refinancing for borrowers looking to change their loan terms or obtain a more affordable monthly payment.
One of Top Flite Financial’s unique offerings is their refinancing analysis option. This service provides you with a more thorough understanding of your new loan terms, making it easier to make an informed decision when refinancing.
Furthermore, Top Flite Financial caters to a wider range of borrowers, as they accept a low minimum credit score of 500. This feature makes their services more accessible to applicants with lower credit scores looking to refinance their mortgages. For FHA borrowers, Top Flite will proactively contact you about refinancing options.
Another advantage of choosing Top Flite Financial for your mortgage refinance is their focus on simplifying financial obligations. By consolidating your debts into a single mortgage, you can potentially lower your monthly payments and improve your credit scores over time. The funds you obtain from a cash-out refinance can be used for various purposes, such as home improvements, education expenses, or other significant investments.
Top Flite Financial also receives high marks when it comes to customer satisfaction. This indicates that they prioritize providing a pleasant customer experience throughout the refinancing process. And what matters most is that they exhibit kindness through every step.
See How Much You Could Qualify for a Mortgage Refinance with Top Flite Financial
If you’re ready to explore your mortgage refinance options, submit an online inquiry. It only takes a few seconds, and a Top Flite Loan Officer will reach out to help guide you through the application process and answer any questions you may have.