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Refinancing is easy. Once you've decided it's a good
time to refinance you can apply
on-line or call any of our branches.
There are several reasons it may be the right time
to refinance your present mortgage.
Get a lower interest rate.
If current rates are
about a point below the rate you have now, consider
refinancing. The rate isn't the only factor to consider,
however. Learn more.
Consolidate your first mortgage and
an equity loan.
Equity loan rates are usually higher than rates for
first mortgages. It may make sense to consolidate both
loans to save money over what you are paying separately.
Consolidate other debt.
Credit card debt usually carries a much higher interest
rate than first mortgages and the interest is not deductible.
Consider paying off non-mortgage debt and reduce your
taxes at the same time. Consult your tax advisor for
details.
Use the equity in your home for other
needs.
You can refinance to get cash for home improvements,
pay college tuition, or to make a major purchase such
as a second home or cabin.
Convert an adjustable rate mortgage
(ARM) to a fixed rate.
If you have an ARM loan, you can refinance to a fixed
rate to get away from variable payments. It's more difficult
to calculate savings in this case due to the variable
rate feature of an ARM, but combining this purpose with
another purpose like getting cash out may make sense
in your particular situation.
Learn about the Refinance
Process
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