Refinancing a Home
Refinancing is the process of obtaining a new mortgage to repay and replace an existing mortgage. The following are some of the reasons borrowers refinance their mortgage:
- Change from an Adjustable Rate Mortgage (ARM) to a fixed rate mortgage.
- Get an ARM or fixed rate loan with a lower interest rate.
- Pay off the loan faster and build equity (by changing to a shorter term loan).
- Tap into the home's equity to pay for tuition, home improvements, debt consolidation, or financing a second home.
Is refinancing right for you? It may make sense to refinance if the current value of your home has increased. However, if it has declined, it may not be the best option for you. Click on "Play With The Numbers" and use the "Refinance Payback Calculator" to see how long it would take to realize a savings if you refinance.
The Mortgage Process
Whether you've refinanced before or not, we are sure your experience this time around will be easier, faster and altogether more clear.
We've summarized our new process into simple steps. Follow these and you'll be closing your loan in no time!Loan Consultant
Not sure which loan is right for you? Our Loan Consultant walks you through all the important steps of determining which mortgage best fits your needs.Calculators
Fixed rate loan or variable? For how many years should we finance? Our wide range of calculators can help you answer these and many other questions before you start your application.
