Refinance
Refinance to improve your rate, payment, or cash position.
Refinancing is commonly used to lower your interest rate or monthly payment, convert an adjustable-rate loan to fixed, pay off a balloon payment, or access equity with a cash-out refinance. Another option may be a home equity loan—useful when your current mortgage rate is significantly lower than today’s rates or if your loan has a prepayment penalty.
Common benefits
- Reduce your interest rate
- Cash out equity (home improvements, education, debt consolidation)
- Consolidate debt and simplify payments
- Potentially lower monthly payments
Eligibility, terms, and savings vary by borrower profile, property, and market conditions.