South Carolina
 
 

Refinance

There are many times when it makes sense to refinance your mortgage. Most of the time we can include your closing costs into your loan, allowing you to refinance with little or no cash required at closing.
 
  • Lower Interest Rate – The most common reason to refinance is to take advantage of lower interest rates. If the rate you are paying on your existing mortgage is higher than current rates, you may save money by refinancing. You can lower your monthly payment, reduce the term of your loan and save interest over the life of your loan.

  • Debt Consolidation – If you have credit card debt, a home equity or other consumer debt that you would like to combine into one mortgage, you could save money by refinancing. Often the interest rate you pay on credit card and consumer debt is much higher than mortgage interest rates. In addition, the interest you pay on credit cards and consumer debt is not tax deductible, whereas the interest that you pay on a mortgage loan is generally tax deductible (consult your tax advisor).
     
  • Home Improvement – If you have equity built up in your home, this may be a good option for you. You can take cash out for repairs or to make improvements such as building an addition or adding a pool. You can increase the enjoyment and the value of your home.
  • Fix Your Interest Rate - If you have an adjustable rate mortgage it may be time to refinance to a fixed rate. Take advantage of lower interest rates and lock-in on a fixed rate mortgage so your interest rate and monthly payment will not change again.

Whatever your reason, First Bank can make it quick and easy for you to refinance your home. You can complete the application and find out now if you are pre-approved. If you have any questions about refinancing your current mortgage, contact one of our Mortgage Loan Consultants via email  or 800-303-7592.
 
 
Additional rates, terms and products are available upon request. Rates are subject to change at any time without notice. The rates stated above assume a 20% down payment and may be adjusted due to credit score.