Take Advantage of Our Competitive Interest Rates and Potentially Reduce Your Monthly Mortgage PaymentsWhen you refinance your home, you're basically paying off your existing mortgage by taking out a new mortgage loan. By doing this, you may be able to benefit in a variety of ways:
- Secure a lower interest rate than your current mortgage.
- Reduce your monthly payment.
- Get cash out at closing by borrowing against the equity in your home.
- Build up equity more quickly by converting to a loan with a shorter term.
- Change from an adjustable-rate mortgage (ARM) to a fixed-rate loan, for a predictable payment for the life of the loan.
- Convert to an ARM with a potentially lower interest rate.
- Use the equity in your home to fund home improvements, make a major purchase, or finance your child's education.
- Interest may be tax deductible (consult your tax advisor for any tax benefits).