Your home. Your next financial chapter.
Explore a lower payment, a different loan term or access to equity—with a clear view of the costs and tradeoffs.
What would you like your mortgage to do?
A refinance replaces your existing mortgage with a new loan. Start with the outcome you want, then compare what it takes to get there.
Explore a lower payment
Compare your current payment with a new loan scenario, including fees, mortgage insurance and the repayment timeline.
A lower payment doesn’t always mean a lower total cost.
Change your loan term
Consider a shorter payoff timeline or a term that better fits your monthly budget and longer-term plans.
A shorter term may increase monthly payments. Extending the term can increase total interest.
Access Home Equity
Review whether cash-out borrowing fits a specific need, such as home improvements, alongside other ways to fund it.
Cash-out borrowing increases debt secured by your home.
Two Paths. Different Purposes.
The right approach depends on your current loan, available equity and financial priorities—not just the new monthly payment.
Rate-and-term refinance
Change the structure of your mortgage, rather than take out a substantial amount of cash.
What Changes
Replace your current loan to adjust the interest rate, loan term or both. A lower rate is not guaranteed.
What to evaluate
Compare the new payment, remaining years, APR, closing costs and total interest with keeping your existing loan.
Keep in mind
Restarting or extending the repayment timeline can reduce a payment while increasing the interest you pay over time.
Cash-out refinance
Replace your mortgage with a larger loan and receive a portion of your equity as cash at closing.
What Changes
Your new loan pays off the existing mortgage. Cash available depends on equity, costs and loan requirements.
What to evaluate
Consider the purpose of the funds, new balance, payment, fees and total cost. Compare alternatives before deciding.
Keep in mind
Cash-out borrowing increases debt secured by your home. Using it to repay unsecured debt moves that debt onto your home.
These are general refinance categories, not an offer or eligibility decision. Available terms depend on your credit, income, equity, property and lender guidelines. An advisor can help review your situation.
A clear plan. A guided next step.
Your refinance has its own details and timing. Our team helps you understand what’s needed and why it matters.
01
Talk through your goals
Share your current mortgage, priorities and plans for the home. We’ll discuss whether a refinance is worth exploring—and what to compare.
02
Apply and review your options
Provide your financial information for review. Compare the proposed payment, term, closing costs and total cost with your existing loan. Discuss any rate-lock terms.
03
Document and value the property
Upload requested income, asset and mortgage documents. An appraisal or other property valuation may be required; your advisor will explain what applies.
04
Complete the loan review
Underwriting evaluates your application, credit and property. Respond to requests and confirm how closing costs will be paid before moving forward.
05
Review, close and confirm funding
Review your Closing Disclosure and ask about any changes. Sign closing documents, understand any applicable cancellation period and confirm the payoff and first payment details.
Bring the details. We’ll help connect the dots.
You don’t need every document to start a conversation. Your advisor will confirm what’s needed for your loan and circumstances.
Keep your next step on track.
Keep making your existing mortgage payments until the payoff is confirmed. Talk with your advisor before changing jobs, opening new credit or making a large purchase.
Already applying? Use the Customer Portal for requested documents. Avoid sending sensitive financial information by regular email.
- Current mortgage & property details
Recent mortgage statement, any second-lien or HELOC details, homeowners insurance and property tax information.
- Identity & residence
Government-issued ID and your address history. Confirm how the property is used and who is on the title.
- Income & employment
Recent pay stubs, W-2s and employment history. Tax returns or business records may be requested if you’re self-employed.
- Assets & other debts
Recent bank and investment statements, plus information on other debts. Ask how to document funds for closing.
Good questions. Clearer decisions.
Your circumstances matter. Let’s talk through what these answers mean for your home and financial plans.
When does refinancing make sense?
Start with a specific goal and compare the full cost of a new loan with keeping your current mortgage. Your rate, remaining term, closing costs, equity and plans for the home all matter. Refinancing is not always the better choice.
Will refinancing lower my payment or rate?
Not necessarily. Your options depend on market conditions and your credit, income, equity and loan details. A payment can fall because the term is longer—even if total interest rises. Ask to compare both monthly and lifetime costs.
Can I refinance without paying costs upfront?
Some scenarios may allow costs to be financed or offset by lender credits. That does not make the refinance free: financing increases your balance, and credits may come with a higher rate. Review the tradeoffs in your Loan Estimate.
How much equity do I need?
Requirements vary by loan, lender and property. For cash-out, the amount you can borrow is limited by the home’s value, existing liens and applicable loan-to-value guidelines. An advisor can review your equity without promising eligibility.
Will I need an appraisal, and how long will it take?
A property valuation may be required; some loans may qualify for alternatives. Timing depends on document readiness, valuation, title work and underwriting. Your advisor can outline the steps and dependencies for your situation.
Can I change my mind after signing?
Many refinances secured by a primary residence have a three-business-day right of rescission, but exceptions apply. Ask your closing team whether it applies to your loan, the exact deadline and how to exercise it before signing.
Let’s put your refinance in perspective.
Begin your application, or call 910.444.3868 to talk through your goals with our team first.
