Lower Your Payment
Refinancing your mortgage is a great way to save.
Lower your monthly payment and you can start an emergency fund, pay off other creditors, or increase the value of your home with repairs and improvements. Refinance to tap into some of your home’s equity, and you can meet short and long term financial goals without dipping into savings or running up credit cards with interest rates.
Be aware that f you refinance to shorten your term, it may cost you more each month, but you’ll save thousands over the life of the loan. Most of our home refinance transactions close in 30 days or less—so you’ll quickly be on your way to achieving your goals. It feels nice to spend money on things you want rather than just things you need.
No matter why you’re refinancing, strategize your mortgage so that it works for you. Your home is one of your biggest investments. Use it to your advantage. Call a Mortgage Advisor to find out more. Discover the possibilities.
Use our calculator to find your new potential monthly mortgage payment. You can make sure that you have enough money each month for your other expenses. Choose your rate and term. Be amazed.
Home Refinance FAQs
The most popular reason to refinance is to lower your rate. In addition, if you’ve been making mortgage payments for a while and you have built up equity in your home, you may be able to eliminate your mortgage insurance.
A decision to refinance should be carefully considered and discussed with a Mortgage Advisor. Closing fees are normally added into the cost of the loan, so there’s rarely any upfront cost except for the appraisal. And if you originally financed your property through Ark, our Lifetime Guarantee ensures your application and commitment fees will be waived and your appraisal cost reimbursed—a savings of up to $2,500!
Lower Your Rate
If interest rates drop below the note rate on your current mortgage you may be able to save thousands each year.
Eliminate Mortgage Insurance
Because property values are increasing, you may be eligible to remove the mortgage insurance premium (MIP).
Consolidate Debt
Lower your overall monthly payments by consolidating high credit debt using the equity in your home.