North Shore Bank of Commerce 
Why Refinance?
Because it’s never been easier!
Here are some other reasons to refinance:
- As a general rule, if current rates are about 1% below the rate you have now, you should consider refinancing.
- Consolidate your First Mortgage and an Equity Loan. Since Equity Loan rates are usually higher, this could end up saving you money over what you are paying separately.
- Consolidate Other Debt: Credit card debt, for example carries a much higher interest rate than first mortgages and is not tax deductible.
- Use the Equity in your Home for Other Needs: Refinance to get cash for home improvements, college tuition, a new cabin, etc.
- Convert an Adjustable Rate Mortgage (ARM) to a Fixed Rate: Refinancing an ARM loan to a fixed rate will help you get away from variable payments.
The simple process:
- First things first. Figure out how long you plan to live in your house. You should calculate the amount of time it will take to recover your closing costs and begin saving money.
- Next, choose the right type of mortgage. Our Loan Originators can assist you with this.
- Then… apply! You can even APPLY ONLINE! And because we make all our loan decisions locally we can usually let you know if you’re approved within hours.
- Lastly, learn about the closing process and the right of rescission.
