Refinance Loans

If you’re already a homeowner, you may be ready to consider a refinance. These loans use the equity you’ve built to help you reach other financial goals.

A refinance loan can help you

  • Consolidate or pay down high-interest debt
  • Cash out and get funds for home upgrades, renovations, landscaping and more
  • Reduce your monthly mortgage payment
  • Reduce your interest rate
  • Get rid of private mortgage insurance

You can also use a refinance loan to get a shorter- or longer-term loan or to switch from an adjustable-rate mortgage to a fixed-rate mortgage (or vice versa).

You can refinance many types of mortgage loans, including FHA loans, VA loans, USDA loans and Jumbo loans.

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*When it comes to refinancing your home loan, you can generally reduce your monthly payment amount. However, your total finance charges may be greater over the life of your loan. Your PRMI loan professional will provide you with a comprehensive refinance comparison analysis to determine your total life loan savings.