We can you do everything from refinance your home to pay off an existing loan and replace it with a better one!

Why Refinance?

The opportunity to obtain a lower interest rate; the chance to shorten the term of your mortgage; to convert from an adjustable-rate mortgage (ARM) to a fixed-rate mortgage, or vice versa; the opportunity to tap a home’s equity in order to finance a large purchase; and to consolidate debt.

Because refinancing can cost between 3% and 6% of the loan’s principal and requires appraisal, title search and application fees, we help determine whether refinancing is truly beneficial to our customers.

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Build equity faster

Refinancing, also known as a “home equity” loan, is a way to convert the equity in your home to cash. A “home equity” loan is an alternative to refinancing if your home loan has a very low rate compared to current interest rates or if you have a prepayment penalty on your loan.

Just imagine what you could do with an extra $100, $300 or more each and every month. You might decide to apply the savings toward your balance and build equity faster.

Lower your interest rate

The interest rate on your mortgage is tied directly to how much you pay on your mortgage each month. Lower rates usually mean lower payments. We may be able to get you a lower rate because of changes in the market conditions or because your credit score has improved. A lower interest rate also may allow you to build equity in your home more quickly.

Adjust the length of your mortgage

Increase the term of your mortgage: You may want a mortgage with a longer term to reduce the amount that you pay each month. However, this will also increase the length of time you will make mortgage payments and the total amount that you end up paying toward interest.

Decrease the term of your mortgage: Shorter-term mortgages–for example, a 15-year mortgage instead of a 30-year mortgage–generally have lower interest rates. Plus, you pay off your loan sooner, further reducing your total interest costs. The trade-off is that your monthly payments usually are higher because you are paying more of the principal each month.