Home Mortgage Loan Refinancing
More About Mortgage Refinancing
How does refinancing work?
Refinancing a mortgage involves taking out a new loan to pay off your original mortgage loan, usually to take advantage of lower market interest rates or to cash out a portion of their equity.
Why should you refinance?
Refinancing your mortgage can free up money in your budget by lowering your monthly payments or provide a one-time cash-out payment you can use for home remodeling and upgrading projects.
When should you refinance?
When interest rates drop, refinancing your home mortgage can shorten the term of your mortgage. Plus you may be able to pay significantly less in interest payments.
Discuss Mortgage Refinancing with a Great Midwest Bank Loan Officer
Our experienced loan officers can help you determine if now is the right time to refinance your home mortgage. We’ll go over all the options available and guide you through the process, step by step.
How do I begin the refinancing process?
Applying for a Mortgage Refinance is quick and easy thanks to our online loan application. It only takes about 30 minutes to complete. Then one of our loan officers will contact you to determine which loan option best fits you.