Lower Your Monthly Payment

A lower monthly mortgage payment can help free-up money you can save, invest or use for other expenses. When rates are favorable, refinancing to a lower rate or longer-term mortgage can keep more money in your pocket every month.

Example: The Smiths have 25 years remaining on their 30-year mortgage and their home has appraised for $200,000.


Mortgage Amount Rate Term Monthly Payment
Original Mortgage $150,000 7% 30-year $998
Refinance $141,198*
remaining balance
5% 30-year $758

Example: The Smiths have 13 years remaining on their 15-year mortgage and their home has appraised for $200,000.


Mortgage Amount Rate Term Monthly Payment
Original Mortgage $150,000 7% 15-year $1,348
Refinance $137,847*
remaining balance
5% 30-year $740

*Remaining balance assumes that the borrower will pay all closing costs out of pocket.

All applications are subject to underwriting approval. Not all applicants will be approved. Fees and charges may apply. Terms, conditions & restrictions apply. Rate and term may vary based on individual loan characteristics. Rates are subject to change without notice. Not all applicants will be approved. Minimum credit score may apply. Documentation, acceptable properties, insurance, and underwriting is based on individual loan characteristics. Loans are secured by liens against real property. Waiving escrow may require a higher rate or additional fees. By refinancing a consumer’s loan, the total finance charges may be higher over the life of the loan. Call for further details.

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