Explore Your Refinance Options

Take advantage of today’s low rates.

Interest rates are still some of the lowest we’ve seen in decades, and we’re ready to help you take advantage of this. If you would like an estimate of your potential savings, just ask. Your loan officer can provide examples of refinancing scenarios so you can make an informed decision – one that could save you money and provide you with lasting peace of mind.

2013

Rates have dropped to as low as 4.25%*

The national average monthly mortgage payment on a residential mortgage loan is $983.88

1984

2013

1984

Rates were as high as 13.758%

The national average monthly mortgage payment on a residential mortgage loan was $2,331.49


This is based on a Fixed 30-year loan for a $200,000 home.
* 2013: Average monthly payment is based on a $200,000 30-year Fixed-Rate loan at 4.25% interest rate, 4.45% Annual Percentage Rate and 0% down payment. 360 payments totaling $354,197 principal and $154,197 interest. $4,800 due at closing.
**1984: Average monthly payment is based on a $200,000, 30-year fixed-rate loan with 13.758% interest rate, 144.112@ Annual Percentage Rate and 0% down payment. 360 payments $839,325 and interest payments of $639.325. $4,800 due at closing.
These payments do not include taxes and insurance premiums. Some state and county maximum loan amount restrictions may apply.
Source: Bankrate.com

It’s time your house paid you back!

Finance a major purchase with a cash-out refinance. This option is popular with customers who have built equity* in their homes. This may provide the option to borrow against their home’s available equity to pay for other expenses. For example, if you’d like to add a garage, swimming pool, or additional rooms, a cash-out refinance can fund a project that can make your home more comfortable.

Other ways to utilize your home’s equity include:

  • Education - A cash-out refinance could help pay for school or college tuition for your children or yourself.
  • Remodel - The proceeds from a cash-out refinance could help you update one or more rooms in your home, such as the kitchen or bathroom.
  • Purchase - You may choose what to finance with the proceeds. For example, if your family needs a new car, you could use the funds from your refinance to purchase one.

*Equity is the amount repaid on a mortgage, adjusted for any rise or fall in the home’s value, and with any additional liens subtracted.

Lock in current interest rates

Refinancing your adjustable-rate mortgage (ARM) to a fixed rate loan gives you the option to “lock in” current interest rates. Refinancing to a fixed rate would also eliminate the risk of your loan’s rate adjusting upwards, which would increase your monthly payments.

Refinance to a shorter term

If you have a 30-year mortgage, refinancing to a shorter term (10 to 20 years) can be a smart decision for several reasons. In addition to lowering your loan’s interest rate, you’ll pay less interest over the life of your loan. We can help you compare different loan terms so you can choose an option that provides a good combination of savings and affordability.

Why Choose Stearns To Refinance Your House

  • Our only business is home loans – Stearns is a direct lender with a national presence. We’re big enough to offer competitive pricing and a variety of loan products, but small enough to spend time with you and understand your individual needs.
  • Our team of professionals can help guide you through the loan process, from application to funding.
  • We want to be your lender for life. We’ll work hard to build a long-term relationship with you. You’re more than a transaction - you’re part of our family.
  • Timely closings – we process and underwrite our loans “in house” so your loan officer can provide accurate status updates.

Call us today with your questions!

(855) 839-6487