It’s the home improvement project that can put cash in your pocket.
Ready to do something nice for your home? Add a room, build a deck - or maybe freshen up your old mortgage. With the right refinancing, you might be able to reduce your monthly payments or repay your loan faster.
At Starion Bank, our lending experts can help you make quick work of the application process and guide you to a new loan that’s a great addition to your financial future.
- Competitive rates and low closing costs
- Convert to a fixed-rate loan to lock in stable monthly payments
- Choose an ARM to take advantage of years of lower rates
- See whether you can save with a lower interest rate
- Switch to a shorter loan term and eliminate debt faster
If you’re looking for extra money to make a big purchase or cover a major expense, you might consider a cash-out refinancing. Put simply, if you have enough equity in your home, you can borrow extra money at attractive rates.
Before going down this path, it’s best to weigh the benefits of added borrowing against the extra time it might take to repay the loan. Here are some things to consider:
- Are interest rates lower than your current financing?
- How much cash do you need?
- What’s the monthly payment amount?
- What’s the effect on your taxes?
- What’s the total cost of borrowing?
- What’s your break-even point?
- Use our refinancing calculator to see if this is a good option for you.
Starion Bank is a full-service financial institution with branches in North Dakota and Wisconsin.