Refinance Your Home
It might be a good time to refinance your loan when your home value rises or when interest rates drop. Refinancing can help you lower your monthly payments, reduce your total payment amount, consolidate debt or get cash out to put your home equity to good use.1 Whatever your purpose is to refinance, we’ll help you through the process from rate locking to signing.
Which refinance option is best for you?
Adjustable Rate Refinance
Planning to stay in your home for only a few years? Then an Adjustable Rate Mortgage (ARM) might be perfect for you. An ARM loan normally offers a lower rate for an initial period, after which the rate becomes adjustable for the remainder of the loan term.
Fixed Rate Refinance
If you are planning to live in your home for a longer period of time, then our Fixed Rate Mortgage will enable you to lock in a low interest rate and maintain the same monthly principle and interest payment for the entire term of the loan.
Smart Rate Refinance
If you want access to one of Fremont Bank’s lowest rates available for a low cost, then take a look at our Smart Rate Refinance product. The Smart Rate Mortgage is available in Fixed Rate and Adjustable Rate.
Are you interested in refinancing or purchasing a new home, but not sure yet? Do you want to know what the market is doing and be alerted when rates start to drop? Sign up for Fremont Bank's Rate Watch Email.
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Not sure what refinance option is best for you? Give us a call at 877-528-1514. One of our local Loan Officers will explain the features of the different loan programs so that you can make an informed decision.
Reasons to Refinance?
Lower Your Monthly Payment
Lowering the amount of your monthly payment can have a positive impact to your budget and may increase your cash flow.
Reduce Your Interest Rate
Refinancing when mortgage interest rates fall may generate greater cash flow. You can either lower your monthly payment and maintain your current repayment term, or reduce your repayment term and pay a constant monthly payment.
Pay Off Your Loan Faster
If you want to pay off your home loan sooner and potentially reduce the overall cost of interest, refinance for a shorter loan term. This may enable you to pay off mortgage debt faster and focus on other major priorities, like college tuition and retirement. Typically you have a higher payment, but the repayment period will be less.
Cashing out with either a refinance or home equity line of credit allows you to use the equity in your home. This can be useful if you are making a large purchase or plan to pay off major expenses. Taking cash out increases mortgage debt, but it can be a great financial benefit.
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1 Refinancing to lower your monthly payment may extend the number of monthly payments and/or the total amount paid when compared to your current situation.
2 No Closing Cost loans are subject to terms and conditions of Fremont Bank's Application Fee Agreement, which lists the specific costs and fees the borrower will not pay. An application fee may be required after a loan application is submitted, which will be refunded as a credit on your Closing Disclosure statement. Application fee is non-refundable if your loan is denied, withdrawn or does not close for any reason. Borrower is responsible for paying all fees and charges imposed by brokers or an existing third party lender (for example, payoff demand statement fee and/or a reconveyance fee) as well as any prepayment penalty imposed by any third party lender or Fremont Bank. Loans with lower nominal interest rates may be available to borrower willing to pay points and fees.
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