When you are thinking

I need cash for renovations or debt consolidation.

I want to lower my rate or lower my payment.

I want to pay off my mortgage faster.

Are you wondering if it’s the right time to refinance? Then you should consider a few things first:

Determine how long you plan on staying in your home, think about your financial goals, review your credit
score, estimate your home equity, and research current mortgage rates. All of this will help you decide if
moving forward with a refinance is a good financial move for you.

Do you want a lower payment?

Refinancing to a longer term can lower your monthly payment, making it easier on you financially.

Do you need cash?

A cash-out refinance lets you use the equity in your home for things you want to do like completing renovations, paying of debts, or starting a business. There are no restrictions on how you use the money. It all depends on you and your needs.

Do you want to pay off your loan faster?

With a shorter term, you can be mortgage-free faster than when you first applied for your mortgage. You’ll own your home outright and be free of mortgage debt much sooner.

Want to know what a refinance could mean for you? Run the numbers to see if it makes sense for you.
Click here to use our Mortgage Refinance Calculator.

Refinancing an existing loan may increase total finance charges over the life of the loan. Equal Housing Opportunity.