Why Refinance?
Most commonly occurring following a change in the interest rate environment, refinancing allows borrowers to revise the interest rate, monthly payment, and terms of their existing mortgage with a new loan agreement.
Pay Off Your Home Sooner
Refinancing can allow homeowners to obtain a shorter loan term and lower the amount of overall interest paid over the life of their loan.
Lower Your Monthly Payment
Put more money in your pocket every month by refinancing to a longer loan term. Or, if you're planning to sell in a few years, consider an ARM.
Tap Into Your Home Equity
Looking to make home renovations or consolidate debt? A cash-out refinance allows you to use the equity you've built in your home to cover a range of costs.
Choose the Right Type of Refinance for Your Needs
Fixed-Rate
With a fixed-rate refinance you'll receive new interest rate that is fixed for the life of your new loan term. Your monthly payments will also be the same for the life of the loan.
Adjustable-Rate
An adjustable-rate refinance means your interest rate may vary during your new loan's term based on current market conditions.
FHA and VA
Government-backed loans for the Federal Housing Administration and U.S. Department of Veterans Affairs offer low down payment options and flexible credit guidelines for qualified borrowers.
Cash-Out
Use the equity you've built in your home to cash out when you refinance. Funds can be put toward a variety of goals including home repairs and debt consolidation.
Very easy experience working with Michael at Leader Bank on our refinancing process. He was there every step of the way and was available to clarify questions and explain what everything meant. Process was also very fast.
Refinancing Blogs
Link to Debunking The Most Common Mortgage Refinancing Myth Debunking The Most Common Mortgage Refinancing Myth
If you are currently shopping for a home and a mortgage you may have received a special offer for a free refinanc
Link to Home Equity Line of Credit (HELOC) vs. Refinancing: Which is Better for You? Home Equity Line of Credit (HELOC) vs. Refinancing: Which is Better for You?
Homeownership is likely one of the biggest investments you’ll make in your life, and one of the questions that comes along with this inve
Link to Refinancing Revisited: Weighing the Pros and Cons Refinancing Revisited: Weighing the Pros and Cons
The low mortgage rate environment led to a refinancing boom in 2020, and the trend is likely to continue with rates holding steady at all
