A Better Rate or More Cash — Sometimes Both.
Refinancing with Lumen Mortgage is fast, transparent, and handled in-house. Lower your rate, shorten your term, eliminate PMI, or unlock your home's equity.
Both Available
Rate & Term or Cash-Out
80% LTV
Cash-Out Up To
21–30 Days
Typical Close Time
None
Prepayment Penalty
Overview
Your Home Has Done the Work — Now Make It Work for You
Refinancing replaces your existing mortgage with a new one — at a better rate, different term, or with access to your equity. When done at the right time, a refinance can save tens of thousands over the life of your loan, reduce your monthly payment, or fund renovations, debt consolidation, investments, or other goals.
At Lumen Mortgage, we handle every refinance in-house from application through funding. No third-party processing delays, no surprises — just a clear timeline, transparent costs, and a dedicated loan officer guiding you through.
Who This Is For
Key Features
What Makes This Program Work
Rate & Term Refinance
Reduce your interest rate, shorten your loan term from 30 to 15 years, or both. The most common refinance with the clearest ROI.
Cash-Out Refinance
Access up to 80% of your home's value in tax-free cash. Common uses: renovation, debt consolidation, investment, education.
PMI Elimination
If you've crossed 20% equity and are still paying PMI, a conventional refi can permanently remove it — often with little or no rate increase.
VA IRRRL & FHA Streamline
These government loan streamlines require minimal documentation and no new appraisal — the fastest way to lower your rate.
Fast In-House Close
Our in-house processing and underwriting team targets 21–30 day close timelines — significantly faster than the industry average.
No Prepayment Penalty
All of our refinance loans come with no prepayment penalty — so you can refi again or pay off early without cost.
Have questions about this loan?
Talk to an Expert — Free Consultation
Get a personalized rate quote with no impact to your credit score.
Interactive Tool
Refinance Savings Calculator
Enter your existing loans below to calculate your blended rate, then compare it against a proposed refinance rate to see your potential monthly and lifetime savings.
Blended Rate Calculator
Weighted average rate across all your outstanding debt
Loan Type
Current Balance
Current Rate
Portfolio Breakdown
Blended Rate
6.500%
Total Debt
$500,000
Loans
1
New Rate
Term
Rate Δ
▼1.001%
Current
6.500%
New
5.499%
Est. Monthly Payment
Current
$3,160
@ 6.50%
New
$2,839
@ 5.50%
$322
saved / mo
$3,861
saved / yr
$115,815
saved 30yr
Refinancing at 5.499% could save you $322/mo vs. your blended rate of 6.500%.
| Year | Principal | Interest | Balance |
|---|---|---|---|
| 1 | $6,737 | $27,327 | $493,263 |
| 2 | $7,117 | $26,947 | $486,147 |
| 3 | $7,518 | $26,546 | $478,629 |
| 4 | $7,942 | $26,122 | $470,687 |
| 5 | $8,390 | $25,674 | $462,297 |
| 6 | $8,863 | $25,201 | $453,434 |
| 7 | $9,363 | $24,701 | $444,071 |
| 8 | $9,891 | $24,173 | $434,180 |
| 9 | $10,449 | $23,615 | $423,731 |
| 10 | $11,038 | $23,026 | $412,693 |
| 11 | $11,661 | $22,403 | $401,033 |
| 12 | $12,318 | $21,745 | $388,715 |
| 13 | $13,013 | $21,051 | $375,702 |
| 14 | $13,747 | $20,317 | $361,955 |
| 15 | $14,522 | $19,542 | $347,433 |
| 16 | $15,341 | $18,723 | $332,092 |
| 17 | $16,206 | $17,857 | $315,885 |
| 18 | $17,120 | $16,943 | $298,765 |
| 19 | $18,086 | $15,978 | $280,679 |
| 20 | $19,106 | $14,958 | $261,574 |
| 21 | $20,183 | $13,880 | $241,390 |
| 22 | $21,322 | $12,742 | $220,069 |
| 23 | $22,524 | $11,540 | $197,545 |
| 24 | $23,794 | $10,269 | $173,750 |
| 25 | $25,136 | $8,927 | $148,614 |
| 26 | $26,554 | $7,510 | $122,060 |
| 27 | $28,051 | $6,012 | $94,009 |
| 28 | $29,634 | $4,430 | $64,375 |
| 29 | $31,305 | $2,759 | $33,070 |
| 30 | $33,070 | $993 | Paid off |
| Total | $500,000 | $521,907 | paid off |
*Monthly payment estimates assume a standard amortizing loan. Blended rate is weighted by outstanding balance. Savings projections are estimates only and do not include closing costs, fees, or prepayment penalties. Not a commitment to lend. · Lumen Mortgage Corporation NMLS #1498678
The Process
How It Works
Request Your Refi Analysis
Share your current loan details. We'll calculate your break-even point, projected savings, and whether refinancing makes sense right now.
Application
Complete our simple online application. We pull credit with a soft inquiry first, then hard pull only when you're ready to proceed.
Appraisal & Processing
We order your appraisal and compile your documentation simultaneously to keep your timeline on track.
Underwriting & Approval
Our in-house underwriters review and issue your Clear to Close. We'll notify you immediately and schedule your signing.
Close & Fund
Sign your new loan documents. After a 3-day rescission period (for primary residences), your old loan is paid off and funds are disbursed.
Requirements
General Qualifications
Ready to See If You Qualify?
Every borrower's situation is unique. Give us 15 minutes and we'll review your financial picture, identify every program you qualify for, and walk you through your options — at no cost and with no obligation.
Licensed in Oregon & California · NMLS #1498678
FAQ
Common Questions
What Our Clients Say
Five-Star Reviews from Real Borrowers
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Ready to Get Started?
Our loan officers will review your scenario, walk you through your options, and guide you from application to close — with full transparency at every step.