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Couple with 15-year mortgage refinance

Home Refinancing with Mutual of Omaha Mortgage

Whether you're looking for a cash-out refinance, adjusting your home loan rate or term, or are in the market for a reverse mortgage, Mutual of Omaha Mortgage offers the best solution for your mortgage refinance needs. Popular reasons to refinance include:

  • Refinance Mortgage Rate and/or Term: This is one of the most popular reasons for home refinance. Mortgage rates change over time, and when rates drop, that can be a great time to refinance for a lower monthly payment or for a shorter term (for example changing from 30-year to 15-year mortgage).
  • Change Your Loan Structure: As your financial circumstances change, you can refinance to change your loan structure. You might choose to change from an adjustable-rate to a fixed-rate mortgage, or you may be able to eliminate Private Mortgage Insurance.
  • Get Cash Out From Your Home Equity: This is a popular option for homeowners looking to consolidate debt or consolidate credit, make home improvements, or cover high-cost expenses. In a cash-out refinance you can borrow money against the value of your home for a low-interest rate that you can pay off over time.

Cash Out Refinance Rates

If you are thinking of refinancing to a lower rate and lower monthly payment, it might also be a good time to use some of your home equity in a cashout refinance. It might be more affordable than you think to make the home improvements you've been dreaming of.

Purpose Average Cashout Monthly Payment
Credit Card Debt Consolidation $6,7001 $402
Bathroom Remodel $10,9003 $652
Kitchen Remodel $25,6004 $1542

1. https://www.nerdwallet.com/blog/average-credit-card-debt-household/
2. Assumes a refinance to 30-year fixed at 6.01% APR. Please see corresponding disclosure below.
3. https://www.homeadvisor.com/cost/bathrooms/remodel-a-bathroom/
4. https://www.homeadvisor.com/cost/kitchens/remodel-a-kitchen/

Refinance and get cash out to remodel your kitchen, bathroom, or consolidate debt

Advertising Rate Disclosures

Disclosure Assumptions - Current as of 12/14/23
  • The Interest rates quoted assume a $300K loan amount, $378K value (~80% LTV), Primary Single Family Residence (SFR 1 unit), Owner Occupied (O/O), with impounds (Escrow), 780 FICO score, 43 DTI (Debt-To-Income ratio), Alameda County, CA.
  • The actual interest rate, APR, and payment may vary based on specific terms of the loan selected, verification of information, your credit history, the location and type of property and other factors.
  • Not available in all states.
  • Rates are subject to change daily without notice.
  • Payment amounts shown do not include taxes or insurance.
15-year Fixed-Rate as low as 6.125% (6.174% APR)
  • The advertised loan is a 15-year fixed-rate full amortizing loan, assuming a $300,000 loan amount and a 6.125% interest rate.
  • This loan has 180 monthly principal and interest payments of $2,552.00. The disclosure APR is based on 0.227 discount points and $681 in additional prepaid finance charges due at closing.
  • The Annual Percentage Rate (APR) is 6.174%
30-year Fixed-Rate as low as 6.490% (6.515% APR)
  • The advertised loan is a 30-year fixed-rate full amortizing loan, assuming a $300,000 loan amount and a 6.490% interest rate.
  • This loan has 360 monthly principal and interest payments of $1,895.00. The disclosed APR is based on 0.174 discount points and $522 in additional prepaid finance charges due at closing.
  • The Annual Percentage Rate (APR) is 6.515%
15-year Fixed-Rate VA Loan as low as 6.000% (6.586% APR)
  • The advertised loan is a 15-year fixed-rate full amortizing loan, assuming a $300,000 loan amount and a 6.000% interest rate.
  • This loan has 180 monthly principal and interest payments of $2,532.00. The disclosure APR is based on 0.379 discount points and $1,137 in additional prepaid finance charges due at closing.
  • The Annual Percentage Rate (APR) is 6.586%
30-year Fixed-Rate VA Loan as low as 5.990% (6.411% APR)
  • The advertised loan is a 30-year fixed-rate full amortizing loan, assuming a $300,000 loan amount and a 5.990% interest rate.
  • This loan has 360 monthly principal and interest payments of $1,797.00. The disclosed APR is based on 1.086 discount points and $3,258 in additional prepaid finance charges due at closing.
  • The Annual Percentage Rate (APR) is 6.411%