Do Good Mortgage helps homeowners in Portland and across Oregon and Washington decide whether refinancing makes sense, and if it does, find a loan with competitive pricing from among multiple lenders.
Types of Refinance
- Rate-and-term refinance to change your rate, your term (for example from 30 to 15 years), or both.
- Cash-out refinance to borrow against your equity for remodeling, college costs, or paying off higher-interest debt.
- FHA to conventional to potentially remove FHA mortgage insurance once you have enough equity.
- Streamline options for some existing FHA and VA loans, which may require less documentation.
Is Refinancing Worth It?
The key question is your break-even point: how long it takes for monthly savings to repay the closing costs of the new loan. If you plan to stay in the home well past that point, refinancing may make sense. We calculate this for you using your actual numbers, and we will tell you honestly if waiting is the better move.
We also look at the total interest you would pay over the life of each option, not just the monthly payment. Restarting a 30-year term can lower your payment but increase total interest, so we show both sides.
What to Prepare
Most refinances require recent pay stubs, W-2s or tax returns, bank statements, your current mortgage statement and homeowners insurance information. An appraisal is often required, though some loans qualify for an appraisal waiver. We give you a clear checklist up front.
How Working With Do Good Mortgage Works
Do Good Mortgage is a mortgage broker based in NE Portland. Instead of offering a single bank's products, a broker can compare loan options from multiple wholesale lenders and help you choose the one that fits. You work with one point of contact from your first question through closing.
- Strategy call. We talk through your goals, timeline, income, and savings. No pressure, and no application required to ask questions.
- Review and pre-approval. With your permission we review credit, income and assets, then explain your options in plain language, including estimated payment and cash to close.
- Compare options. We shop lenders and loan programs and show you the trade-offs between rate, points, and lender credits.
- Underwriting to closing. We gather documents, coordinate with your agent, escrow and the lender, and keep you updated so there are no surprises.
After your loan closes, Do Good Mortgage makes a donation to a local nonprofit, part of our belief in mixing good business with good deeds.
Frequently Asked Questions
When should I refinance?
When the savings or benefits outweigh the costs and fit your plans. Common reasons include a lower available rate, removing mortgage insurance, changing your term, or accessing equity.
How much equity do I need for a cash-out refinance?
Requirements vary by loan program and lender. We will review your home's estimated value and your current balance to show how much you may be able to access.
Can I refinance with less-than-perfect credit?
Possibly. Different programs have different credit guidelines. We will review your credit and explain which options are realistic.
How long does a refinance take?
Timelines vary with the lender, appraisal scheduling, and how quickly documents come in. We will give you an estimated timeline at the start and keep you updated.
Talk With Clint About Your Loan
Every situation is different, and the right loan depends on your income, credit, savings and goals. Call or text 503-505-9913, or book a free strategy call. Ready to start? Begin your application online.
Do Good Mortgage
5980 NE 37th Ave, Portland, OR 97211
Meetings by appointment · 503-505-9913
Clint Elliott, NMLS #239388 · Licensed in OR and WA