Refinancing
What is refinancing? Refinancing is taking on a new loan for your remaining balance with different terms. Your original loan is paid off, allowing the second loan to be created. Usually, borrowers find this option advantageous when they are looking to lower current monthly payments, reduce or eliminate mortgage insurance, consolidate debts, and/or use home equity for cash out.
Refinancing Features & Benefits
Refinancing Features & Benefits
- Get rid of PMI
- Reduce monthly payments
- Consolidate other lines of credit or debts to a lower interest rate
- Receive cash back
