Mortgage Refinancing Options

Find out how mortgage refinancing can help you meet your financial goals

Why Refinance Your Mortgage?

There are two major reasons to consider mortgage refinancing depending on your unique situation and goals.

  • Secure a lower monthly payment
  • Get cash from the value of your home

Standard mortgage guidelines apply when refinancing through North Country Savings Bank: no prequalification fees, no origination fees, and personalized service from an expert Loan Originator.

Refinancing to Lower your Payment

Refinancing can help you shorten the term of your mortgage or secure a lower or fixed interest rate, which can lower your monthly payments and the overall cost of your home. You would refinance the remaining balance over a length of time that you can afford.

Keep in mind you may have to pay closing costs again, which can add up. Contact a Loan Originator to see if you qualify for a no-closing cost option.

Refinancing to Make a Purchase

Refinancing your home to tap into its equity is similar to home equity lines of credit, but you'll receive the money in one lump sum rather than over time. Refinancing also has a longer term. Use the cash how you need it – remodel your home to increase its value, pay for your child's college tuition or high-interest credit card debt.

Rates can change daily, so talk to a Loan Originator or Personal Banker to get the process started and lock in a rate. You'll need the same documents as a mortgage application – proof of income, proof of insurance, bank statements and your most recent tax returns.

If you're ready to start the refinancing process or have further questions, stop by your nearest North Country Savings Bank to get started or fill out our online application and someone will contact you soon.