You don’t need to pay out of pocket to close your refinance loan with National Home Buyers Assistance Program®. We’ll automatically recommend a loan officer to help roll all your closing costs into your loan to make refinancing more affordable.

No. National Home Buyers Assistance Program® doesn’t currently offer HELOCs, so they’re not available through National Home Buyers Assistance Program®. But you can use National Home Buyers Assistance Program® to get a cash-out refinance, which gives you money you can put toward the same things as a HELOC, like paying down debt.

No. NHBAP doesn’t currently finance mortgages for mobile or manufactured homes.

Common reasons include replacing a higher rate with a lower one to reduce payment and lifetime interest, shortening the term to pay off the home faster, switching from an ARM to a fixed rate for predictability, or using a cash-out refinance to access equity for other needs.

You may encounter an application fee, an origination fee, and closing costs such as title services. You can also elect to pay discount points to lower the interest rate.

Yes. Cash-out programs allow qualified homeowners to tap equity in a primary residence, typically with requirements for credit, employment, and acceptable equity.

A rate lock holds your refinance rate while the loan is processed. Lenders often recommend lock periods around 30 to 45 days. Your decision should reflect current market conditions and your banker’s guidance.

Discount points are prepaid interest equal to 1 percent of the loan amount per point, exchanged for a lower rate. Whether they make sense depends largely on how long you plan to keep the loan and the time needed to break even on the upfront cost.