Lower your payment, shorten your term, or both!
Are you looking to lower your mortgage payments? Let our experienced staff see if refinancing your mortgage can help you reduce monthly payments, eliminate debt faster, or free up cash for other uses.
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What is refinancing?
Your mortgage may be one of the biggest and most important investments you make in your entire life – and it can also help you reach your future financial goals. A mortgage refinance can be a wonderful tool to help you reach those goals sooner.
Refinancing can allow you to change the terms of your mortgage to secure a lower monthly payment, switch your loan terms, consolidate debt or even take some cash from your home’s equity to put toward bills or renovations.
Types of refinancing loans
- Rate-and-Term Refinance – lets homeowners change their existing loan’s interest rate, term or both.
- Cash-Out Refinance - to take advantage of the equity in your home
- Home Equity Line of Credit (HELOC) – a revolving line of credit secured by your home to use for large expenses or to consolidate higher-interest rate debt from other loans.
Key features of refinancing
- Pay off your existing mortgage and replace it with a new one, usually to secure a better interest rate or term
- Refinance to a better rate to reduce your monthly mortgage payment
- Refinance to a new shorter-term loan to build equity faster
- Tap into your home’s equity and receive a one-time cash payment during refinancing
- Refinance to fixed-rate or adjustable-rate mortgage or an FHA or VA loan
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