Find financial relief by refinancing your mortgage with us. Changing your rate and loan terms can help you save money on interest or lower your monthly mortgage payment. A cashout refinance can provide affordable financing for a major home improvement project or other large expense.
- Competitive Rates
- Local Processing
- Quick Decisions
What Is A Mortgage Refinance?
When you refinance your mortgage, you replace your existing home loan with a new one. The process of applying for a home loan refinance is similar to what you experienced with your original mortgage.
Reasons to Refinance Your Home
If you’re considering a mortgage refinance, it’s usually for one or more of these reasons:
Change Your Interest Rate
Maybe rates have gone down on average, or you’ve improved your credit score and can qualify for a better interest rate on your home loan.
Change Your Term
Extend your mortgage term to lower your monthly payment amount. Or, shorten your term to pay off the loan faster.
Switch Loan Programs
You may want to switch from an adjustable to a fixed-rate mortgage (or vice versa). You can also switch from an FHA loan to a conventional mortgage.
Tap the equity you’ve built in your home. With a cash out refinance, you borrow more than you currently owe on your mortgage and get the difference in cash at closing.
When Should You Refinance?
Refinancing your mortgage comes with a new set of closing costs, so you want to be sure the savings or other benefits you reap will exceed the cost of refinancing. Do you plan on staying in your house long enough to at least break even? If you’re not sure, our mortgage lenders can discuss your situation and goals with you to decide whether or not refinancing is a good idea.
Refinance Your Mortgage Today!
Are you ready to start the refinancing process? Still have questions? You can apply for a mortgage refinance online, contact us to learn more, or visit your nearest branch location in Clarks Summit, Scranton, Taylor, Honesdale, or Mount Pocono, PA.