Benefit from your home's equity.
Whether you’re just starting to consider a refinance, or ready to lock in your rate, we’ll walk you through the information you need to know to refinance your home.
When to Refinance:
Usually people refinance to save money, either by obtaining a lower interest rate or by reducing the term of the loan. Refinancing is also a way to convert an adjustable loan to a fixed loan or to consolidate debts.
The decision to refinance can be difficult, since there are several reasons to refinance. However, if you are looking to save money, try to calculate the break even point. If you own the house longer than this, you will save money by refinancing. Since refinancing is a complex topic, consult a mortgage professional.
The documentation you need to refinance is essentially what you needed to prepare your taxes. The effort required is minimal for the savings over the life of your loan. Here’s a helpful checklist of the documents and information you will need to provide once you have applied for your refinanced mortgage.
As a community bank, BNC Bank is able to make decisions quickly and easily. We live in the market and understand the area. Our local footprint allows us to provide a personal touch to your refinancing efforts.