Atlantic Home Mortgage Launches Refinance Platform

Atlantic Home Mortgage announced on Tuesday the launch of Lendtrain, a new online platform specifically designed for mortgage refinancing. This platform allows homeowners to receive estimated refinance options within approximately 30 seconds, without the need to submit a formal loan application or undergo a credit check. The company stated that Lendtrain aims to assist borrowers in determining the potential benefits of refinancing before they engage with a loan officer.

Users of the Lendtrain platform will input basic details about their current mortgage. In return, they will receive an estimated refinance quote. This quote includes wholesale interest rates, projected closing costs, anticipated monthly payment reductions, and a break-even analysis. The break-even analysis illustrates the timeframe required to recoup refinancing expenses through monthly savings. Tony Davis, founder of Lendtrain, emphasized that homeowners often need a quick, clear estimate of rates, closing costs, savings, and break-even points before committing to a sales consultation.

The Lendtrain platform is exclusively focused on refinance transactions. This includes rate-and-term refinances, cash-out refinances, VA Interest Rate Reduction Refinance Loans (IRRRLs), and jumbo loans. The platform operates through the mortgage broker channel, providing access to wholesale lender pricing rather than the retail offerings of a single lender. Homeowners who choose to proceed with a refinance after using the platform are then connected with licensed mortgage professionals to finalize the loan process. Davis explained that the platform's objective is to leverage technology to simplify the initial stages of refinance shopping, while the actual mortgage origination remains with licensed loan professionals.

Davis further elaborated on the importance of the break-even point in refinancing decisions. He noted that while interest rates receive significant attention, the break-even period is often the deciding factor for homeowners. Understanding how many months of savings are needed to offset thousands of dollars in refinancing costs is crucial. Lendtrain is currently accessible to homeowners in Alabama, Florida, Georgia, Kentucky, North Carolina, Oregon, South Carolina, and Tennessee.