Refinance

LOAN OPTIONS

Refinance Your Future

For a brighter tomorrow.

jar with full of coins with growth sprout plant and wooden miniature house as property or mortgage investment concept
jar with full of coins with growth sprout plant and wooden miniature house as property or mortgage investment concept

LOAN OPTIONS

Refinance Your Future

For a brighter tomorrow.

Refinance Your Mortgage and Save

After purchasing a home, don’t forget about the financial benefits of possibly your most significant asset. Use a refinance to lower your mortgage payment, save interest over the life of the loan, consolidate bills, fund college, make home improvements, and more. Contact a mortgage loan officer for a complimentary mortgage review. All we need is your most recent mortgage statement and 15 minutes of your time to see where you stand and what you could potentially save.

Here are Some of the Benefits of Refinancing

Secure a Lower Interest Rate

With a lower interest rate, you can get lower monthly payments potentially saving you thousands a year and tens of thousands over the life of your loan.

Shorten Your Term

It is common to settle on a mortgage with a longer term (ie. more payments over a longer period of time) and some borrowers choose to switch to a shorter term mortgage (ie. less payments over a shorter period of time) allowing you to pay the mortgage off faster and save in interest without the long-term commitment.

Access Your Equity

If you’ve built up significant equity through your monthly payments and your home’s appreciation, a cash-out refinance may make sense to improve your general financial situation.

Pay Off Debts

You can use a cash-out refinance to pay off other debts to save money on interest and reduce your total monthly payments. Mortgage rates are usually lower than the interest rates paid on credit cards and other unsecured debt, so you save on interest payments.

Renovate to Increase Your Home Value

The key to a renovation refinance loan is that the amount you can borrow is based not on what your home is currently worth, but on the projected future value of your home after the renovations.

Cancel Mortgage Insurance

If you have lender-paid mortgage insurance, you can refinance once you reach 20 percent equity to eliminate the premium that's built into your interest rate. The same also applies to certain FHA home loans that require mortgage insurance for the life of the loan.

More Predictable Payments

If you currently have an ARM (adjustable-rate mortgage), you may choose to refinance to a fixed-rate loan to lock in your rate for the remainder of your mortgage providing long-term security.

Make Two, Into One

You can also combine a second mortgage or HELOC (home equity line of credit) into a single primary mortgage at a lower rate. This is like a cash-out refinance, but because you're using it to pay off secondary mortgages, you're not reducing your home equity.

Locate a Mortgage Loan Officer near you.

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This is not a commitment to lend. Mortgage products and services are offered through United Bank. All loan applications are subject to credit and property approval and must meet loan program requirements to qualify. Annual Percentage Rate (APR), programs, rates, fees, closing costs, terms and conditions are subject to change without notice and may vary depending upon credit history and transaction specifics. Other closing costs may be necessary. Flood and/or property hazard insurance may be required.  Speak with a Mortgage Loan Officer for more specific information.
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