People refinance for a variety of reasons including changing from an adjustable-rate to a fixed-rate mortgage, shortening or lengthening the term of the loan, home renovations, getting a loan with better terms and debt consolidation.
While refinancing could make a significant difference in the amount you pay each month, there are other costs you should consider. Plus, your finance charges may be higher over the life of the loan. However, refinancing a mortgage is similar to when you applied for your loan initially. You must have a relatively good credit score, pay closing costs and fees, and may even have a cursory home inspection. So you need to be sure that it will really be worthwhile and do plenty of research. Focus on long-term costs and benefits based on the equity in your home, the terms of the new and existing loans, and the break-even point at which you will recover your costs.
Is refinancing right for you? Contact us or prequalify to find out!
Learn about different loan programs.
Conventional loans are not backed by the government. Learn more about our conventional loan options.
An FHA loan is a government-backed loan insured by the Federal Housing Administration. Learn more about FHA.
We're proud to serve those who serve our country. Learn more about our VA Loan options for Veterans.
Know your options for paying off your mortgage. See if refinancing makes sense for you.
Whether it's a fixer upper or a home you've lived in for years, a renovation loan may be just what you need.
Down Payment Assistance
Looking for a little assistance with your down payment?
With today's low interest rates, jumbo loans have become increasingly popular.
Flex your buying power with an adjustable rate mortgage (ARM).