Refinancing means replacing your current mortgage with a new one, often to secure better terms, lower your interest rate, or restructure your loan to better fit your financial goals.
Lower Interest Rates
Refinancing may give you a lower rate than your current loan, helping reduce monthly payments and save money over time.
Cash-Out Options
With a cash-out refinance, you can borrow more than your existing balance and take the difference in cash. This is a popular way to fund home improvements, consolidate debt, or cover large expenses.
Switch from ARM to Fixed
If you’re in an adjustable-rate mortgage (ARM) and prefer stability, refinancing into a fixed-rate mortgage (FRM) locks in predictable payments for the life of your loan.
Eliminate PMI
If your home’s value has risen since purchase, refinancing may allow you to drop private mortgage insurance (PMI), saving you additional money each month.
Adjust Your Loan Term
Shorten your term (e.g., from 30 to 15 years) to pay off your loan faster and reduce overall interest, or extend your term to lower monthly payments and improve cash flow.
Take Financial Control
Whether you’re looking to save money, access cash, or restructure your loan for peace of mind, refinancing can help you make the most of your mortgage.
Why Refinance?
Refinancing helps you optimize your mortgage for savings, stability, and financial flexibility.
Sarah Beers
NMLS #1481311
Hancock Mortgage a DBA of City First Mortgage Services, LLC NMLS # 3117 and is not an agency of the federal government and is not acting on behalf of or at the direction of HUD/FHA. City First is an Equal Housing Lender. Programs, rates and terms subject to change without notice. Underwriting terms & conditions apply.
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