Refinance Your Future
For a Brighter Tomorrow
Refinance Your Mortgage and Save
Here are Some of the Benefits of Refinancing
Secure a Lower Interest Rate
With a lower interest rate, you can get lower monthly payments potentially saving you thousands a year and tens of thousands over the life of your loan.
Shorten Your Term
It is most common to settle on a 30 year mortgage and some switch to a 15 or 20 year mortgage allowing you to pay the mortgage off faster and save in interest without the long-term commitment.
Access Your Equity
If you’ve built up significant equity through your monthly payments and your home’s appreciation, a cash-out refinance may make sense to improve your general financial situation.
Pay Off Debts
You can use a cash-out refinance to pay off other debts to save money on interest and reduce your total monthly payments. Mortgage rates are usually lower than the interest rates paid on credit cards and other unsecured debt, so you save on interest payments.
Renovate to Increase Your Home Value
The key to a renovation refinance loan is that the amount you can borrow is based not on what your home is currently worth, but on the projected future value of your home after the renovations.
Cancel Mortgage Insurance
If you have lender-paid mortgage insurance, you can refinance once you reach 20 percent equity to eliminate the premium that's built into your interest rate. The same also applies to certain FHA home loans that require mortgage insurance for the life of the loan.
More Predictable Payments
If you currently have an ARM (adjustable-rate mortgage), you may choose to refinance to a fixed-rate loan to lock in your rate for the remainder of your mortgage providing long-term security.
Make Two, Into One
You can also combine a second mortgage or HELOC (home equity line of credit) into a single primary mortgage at a lower rate. This is like a cash-out refinance, but because you're using it to pay off secondary mortgages, you're not reducing your home equity.
Refinance Loan Options
Cash Out Refinance
Are you Looking to Take Cash Out of Your Home Equity?
Refinance to a Lower Rate
VA Refinance
Renovation Loans
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