Discover the benefits of a mortgage refinance, from lowering interest rates to consolidating debt, refinancing can help your financial goals.
1. You can get a lower monthly paymentIf you’re struggling to make your payments every month or just need some breathing room, refinancing to get a lower monthly payment could be a smart idea. If you’ve had your loan for a few years and refinance your mortgage into a new 30-year ...
a lower monthly payment a shorter payoff term the ability to cash out your equity for other uses When you're faced with economic uncertainty, refinancing your mortgage can help give you some breathing room. But at the same time, if you're struggling financially, refinancing can be a little ...
Refinancing your mortgage can be one of the best ways to get the most out of your current home loan and can help you leverage your current investment. When refinancing an existing home loan, borrowers can either lower their monthly payment, shorten their loan term, or receive cash from the ...
See our current mortgage rates, low down payment options, and jumbo mortgage loans. Refinance Refinance your existing mortgage to lower your monthly payments, pay off your loan sooner, or access cash for a large purchase. Use our home value estimator to estimate the current value of your home...
Refinancing can potentially lower your monthly mortgage payment, pay off your mortgage faster or get cash out for that project you've been planning. Refinance payment calculator Estimate your monthly payment Thinking about cash out? If you have available equity in your home, you may be able to ...
When refinancing your mortgage, you may have the option to extend your loan term. While this can lower your monthly mortgage payment, it also means you’ll be paying more in mortgage interest over the life of the loan. Consider your long-term financial goals and whether extending your repayme...
Lower your monthly payment. Shorten the term of your loan. Lock in a fixed rate. Eliminate private mortgage insurance (PMI). Get access to cash for home improvements or other expenses.Start Your Refinance Today! Apply with our online application HomeNow or reach out to a Mortgage Banker to ...
A lower interest rate will save you on short- and long-term interest while reducing your monthly payments. For example, a $100,000, 30-year fixed-rate mortgage with an interest rate of 7% has a principal and interest payment of $665. That same loan at 5% reduces your payment to $536....
While refinancing into a mortgage with a lower interest rate can save you money each month, look at the overall cost of the loan, especially if you are trying to save money in the long-term. A longer-term loan could result in lower monthly payments, but higher overall costs. For instance...