First Bank can help you refinance an existing mortgage with us or another financial institution. There are many reasons to consider refinancing your existing mortgage, such as a drop in interest rates or a financial situation that requires you to adjust the term of the loan.

Who Would Consider Refinancing?

You could refinance if you want to:

  • Stabilize monthly payments (Switch from an adjustable to a fixed interest rate)
  • Lower monthly payments (With a lower interest rate or a longer term)
  • Pay your mortgage off faster (Shorten the term of the loan)
  • Consolidate debt with a single loan and payment
  • Gain immediate cash by refinancing to a higher loan amount

Before refinancing, please consider:

  • Your credit history
  • Any closing and transaction fees that may apply
  • If you are subject to incur any penalties

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