Mortgage Refinancing
Explore refinancing options for your situation
Refinancing gives you the chance to adjust your mortgage terms, potentially lower your monthly payment, or tap into your home's equity. Whether rates have changed, your financial situation has improved, or you want to shorten your loan term, refinancing could be worth exploring. Our team can review your current mortgage and help you understand whether refinancing makes sense for your goals.
Refinance calculator
Use this calculator to estimate your potential monthly savings or new payment terms. Enter details about your current mortgage and the terms you're considering to see how refinancing might affect your finances.
Calculator results are estimates provided for illustrative purposes only and may not reflect actual loan terms. This is not a commitment to lend, a preapproval, or an offer of credit. Actual rates, payments, and costs depend on credit approval, satisfactory appraisal, and underwriting guidelines. Consult a licensed loan officer for details.
Choose a refinance program that works for you
Different refinancing goals require different loan structures. Whether you want to reduce your payment, eliminate PMI, access cash, or shorten your loan term, we have programs designed for your objective. Our loan officers can walk you through the pros and cons of each option.
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Rate and Term Refinance
Adjust your interest rate or loan term without borrowing additional money. This option works well if you want to lower your payment or pay off your home faster by changing to a shorter term.
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Cash-Out Refinance
Refinance for more than you owe and receive the difference in cash. Use funds for home improvements, debt consolidation, education, or other financial goals while potentially securing favorable terms.
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FHA Streamline Refinance
If you have an existing FHA loan, streamline refinancing offers a simplified process with reduced documentation. This program is designed to make refinancing faster and more affordable for eligible borrowers.
Common refinancing questions
Learn more about refinancing, how it works, and whether it could benefit your financial situation.
When does refinancing make financial sense?
Refinancing typically makes sense when interest rates have dropped enough to offset the costs of refinancing, when you plan to stay in your home long enough to break even on those costs, or when you want to change your loan term or access cash. The break-even point depends on your specific situation, so our loan officers can help you calculate whether refinancing will save you money over time.
What's the difference between a rate and term refinance and a cash-out refinance?
In a rate and term refinance, you refinance for the amount you still owe on your mortgage, changing only the interest rate or loan term. In a cash-out refinance, you refinance for more than you owe and receive the difference as cash. Cash-out refinancing taps into your home equity but typically comes with a higher interest rate than a rate and term refinance.
What documents do I need to refinance?
Refinancing requires similar documentation to getting an original mortgage. We'll need recent pay stubs, W-2s or tax returns, bank statements, and information about your current mortgage and property. The exact requirements depend on your loan type and situation. Our team will give you a complete checklist when you apply so you know exactly what to prepare.