Lower your rate & payment by refinancing
If interest rates are lower than when you got your current loan, there's a good chance refinancing may help lower your monthly mortgage payment and pay off your loan sooner, but why else would you refinance?
Reasons to refinance
- Lower your interest rate
- The value of your home has increased
- Home improvements
- Debt consolidation
- Build equity faster
- Apply for a home loan that recognizes improved credit score
- Convert to a fixed or adjustable-rate
2 years w-2s.
30 days of paystubs (4 weekly paid, 2 for biweekly).
If you have retirement income, we will need your yearly award letter.
If you have social security income, we will need the yearly award letter.
2 months of bank statements.
Homeowner's Insurance Quote if purchasing or declaration page if refinancing.
Fixed Rate
The mortgage rates do not change for the term of the loan. Your monthly payments will remain the same throughout the life of the loan.
Adjustable Rate
If you're looking for lower initial monthly payments or plan on being in your home for short term, an adjustable rate mortgage can be beneficial. The rate can fluctuate up or down after the initial rate expires.
Discover helpful Tips for advice on the best time to buy a home and what steps to take when applying for a mortgage loan.