By Steven Hyde, Founder, Hyde Funding · NMLS #391380. Reviewed 2027-01-28. Hyde Funding is a mortgage lender headquartered in San Diego, lending nationwide since 2015.
Short answer: Refinancing replaces your current mortgage with a new one to lower your rate or payment, change your term, remove mortgage insurance, or take cash out. A refinance generally makes sense when the monthly savings recover closing costs within the time you expect to keep the loan, or when cash-out meets a clear goal.
| Goal | Option |
|---|---|
| Lower rate/term | Rate-and-term (conventional, FHA, VA) |
| Lower VA rate fast | VA IRRRL |
| Lower FHA rate fast | FHA streamline |
| Take equity | Cash-out (conventional 80% primary 1-unit; VA cash-out up to 90%, higher in some cases) |
| Rental equity | DSCR cash-out |
| Drop FHA MIP | FHA → conventional |
Closing costs ÷ monthly savings = months to break even. See is it worth it.
On most refinances of your primary home with a new lender, you can rescind until midnight of the third business day after closing (12 CFR 1026.23).
Hyde Funding welcomes every credit profile. If your credit needs significant work, we can refer you to a trusted credit repair partner.
When savings recover closing costs within your time horizon, or to remove mortgage insurance, change term, or take needed cash out.
Conventional 1-unit primary homes: up to 80% LTV. Hyde Funding VA cash-out: typically up to 90%, higher in some cases.
For most primary-home refinances, you have until midnight of the third business day to rescind.
Talk to Steven: (858) 775-1005 · Free VA consultation · Apply now
Steven Hyde, NMLS #391380. Equal Housing Opportunity. Hyde Funding is not a government agency and is not affiliated with the VA. This is general information, not a loan commitment; terms depend on credit, income, property, and lender approval.