Refinance with Us

Discover how refinancing could be the right decision for you and your future.

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What Is Refinancing and How Could It Be Right for Me?

Refinancing is simply paying off your current mortgage with a new loan featuring different rates and/or terms. This means you may be able to save money on your monthly payments or over the life of the loan.

Some of the Most Common Reasons to Refinance

  • You can secure a lower interest rate

    Potentially reduce the amount of interest you pay on your current loan.

  • You can shorten the term of a loan

    Sometimes when interest rates fall, you may have the opportunity to get a shorter term mortgage (e.g., from a 30-year fixed mortgage to a 15-year fixed mortgage) and a lower rate that keeps monthly costs relatively the same.

  • You can take cash out

    If property values in your area have increased, you may have additional equity in your home. Tapping into this equity with a cash out refinance might be a good option if you need extra money for expenses, home improvements, or simply want to consolidate your debt.

  • You can eliminate mortgage insurance

    If you were unable to make a 20% downpayment when you purchased your home, you are likely paying a mortgage insurance premium. If property values have increased since you purchased your home, refinancing could be an easy way to drop your monthly mortgage insurance.

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Hear from Our Customers

I attempted to get a debt consolidation loan from many other lenders and it was so frustrating dealing with them I just didn't even want to try to get this loan. But when I spoke to my loan officer at Franklin American Mortgage Company, it was like a weight was lifted. They made the experience so comfortable and easy, by far the best experience I had with any financial institution.

Brian A.
Refinancing Customer