Personal Services

Refinancing

Should You Refinance?
When you refinance your mortgage, you're actually replacing it with a brand new loan. In doing this, expect to go through a mortgage application process similar to what you experienced with your original mortgage. Refinancing is often a sound financial choice that can allow you to meet a variety of needs:

Reduce your monthly payments by taking advantage of lower interest rates or extending the repayment period.
Reduce your interest rate risk by switching from an adjustable-rate to a fixed-rate loan or from a balloon mortgage to a fixed-rate loan.
Reduce your interest cost over the life of your mortgage by taking advantage of lower rates or shortening the term of your loan.
Pay off your mortgage faster (accelerating the build-up of equity) by shortening the term of your loan.
Free up cash for home improvements or to consolidate debts.

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“I take pride in helping people in our community make their dream home a reality. My goal is to help every client lock in the best interest rate and lowest closing costs available on the market. I’m glad I work for a bank that allows me to help others and that’s Why it’s My Bank, too.

Shea Koger,
Vice President, Main Office