Best for Homeowners looking to lower their rate, drop mortgage insurance, or take cash out.
With a refinance you pay off your current loan with a new one, restructuring the mortgage to fit where you are today. Common goals include lowering the monthly payment, moving from an adjustable to a fixed rate, shortening the term, removing mortgage insurance, or taking cash out.
A cash-out refinance lets you tap home equity for a renovation, a pool, debt consolidation or education. We will walk through the break-even math with you so you know exactly how long it takes for a refinance to pay for itself.
Highlights
- Rate-and-term refinance to lower your payment or shorten your term
- Cash-out refinance for renovations, consolidation and more
- FHA and VA streamline options with reduced documentation
- Remove FHA mortgage insurance by refinancing into conventional
Things to consider
- Closing costs apply — we will show you the break-even point
- Cash-out loans are limited to a percentage of your home's value
Program descriptions are general and for education only. Guidelines, limits and eligibility change; your mortgage advisor will confirm what applies to you. Not a commitment to lend.