Mortgage Refinance Solutions
Discover new opportunities to achieve your goals faster.
Connect With A Loan OfficerUnlock new opportunities with mortgage refinancing
Refinancing means replacing your current mortgage with a new one, usually with better terms. It’s one of the most powerful financial moves a homeowner can make.
When done at the right time, refinancing can lower your monthly payment, reduce the total interest you pay over the life of your loan, or give you access to the equity you’ve built. At First Heritage Mortgage, we can help you figure out when it makes sense to refinance, and then make the process straightforward.
Highlights & Benefits
Reasons to Consider Refinancing
When today’s rates are better than your current rate, refinancing could reduce what you pay every month – sometimes by hundreds of dollars.
Switching to a shorter loan term, like a 15-year mortgage, lets you build equity faster and save thousands in interest. Shorter terms often come with lower rates, too.
If you’ve built enough equity in your home, refinancing may help you drop PMI (Private Mortgage Insurance) and keep more money in your pocket each month.
Have an adjustable-rate mortgage? Refinancing to a fixed rate gives you payment stability. No more potential surprises when rates change.
A cash-out refinance lets you use your home’s equity to pay off high-interest debt like credit cards or personal loans, rolling everything into one lower monthly payment.
A cash-out option also allows you to access your equity for things like home renovations, college tuitions, investment properties, and more. Your home’s value works for you.
By refinancing an existing mortgage, the consumer’s total finance charges may be higher over the life of the loan. Contact your First Heritage Mortgage loan officer for more details.
Common Refinance Options
Lower your rate, change your loan term, or both.
Access equity for home improvements, debt consolidation, or other goals.
Faster, simpler refinancing for qualifying FHA or VA loans.
For homeowners with high loan-to-value ratios or limited equity.
HARP Refinancing
HARP is a federal refinancing program designed for homeowners who are current on their mortgage but have little to no home equity — or even owe more than their home is worth. It provides an opportunity to secure a lower interest rate, reduce monthly payments, or switch to a more stable fixed-rate loan, even when traditional refinancing isn’t an option. With no new mortgage insurance required and eligibility extended to primary homes, second homes, and investment properties, HARP offers a practical path to more affordable and manageable homeownership.
Read MoreFreddie Mac & Fannie Mae Loan Lookup Tools
First Heritage Mortgage offers easy-to-use lookup tools to help you quickly determine whether your mortgage is owned or guaranteed by Fannie Mae or Freddie Mac. Knowing who owns your loan is the first step in accessing valuable refinancing options like RefiNow™ or Refi Possible™, designed to help lower-income borrowers reduce monthly payments and overcome qualifying barriers such as high debt-to-income ratios. Use the online lookup tools or toll-free numbers to confirm loan ownership and see if you may qualify for these affordable refinance programs.
Read MoreMore About Refinancing
A good starting point: if today's rates are at least 0.5–1% lower than your current rate, refinancing may save you money. But rate alone isn't the whole story. Our loan officers will help you calculate your break-even point and make a confident decision.
As your mortgage refinancing lender, our goal is to make the refinancing process as easy as possible. Here’s what you can expect:
- Complete an application: We’ll collect details on your current mortgage, home value, income, assets, and goals to find the ideal refinance solution.
- Provide documentation: Items like pay stubs, tax returns, and bank statements allow us to verify your financial standing and qualify you.
- Appraisal and underwriting: We’ll order an appraisal to confirm your home’s value, then submit everything to underwriting for final approval.
- Clear to close: Once approved, we’ll coordinate with the title company and prepare for your closing appointment to finalize the new loan.
Closing costs typically range from 2–5% of the loan amount. In some cases, you can roll costs into the loan or use lender credits to offset them. We'll walk you through every option.
Most refinances close in 30–45 days. Streamline refinance programs can be faster.
Applying for a new mortgage does create a short-term impact on your credit score. But the long-term savings often far outweigh this. We'll help you decide if the timing is right.
Explore all your financing options
Connect now
Let’s see what refinancing can do for you
Every homeowner’s situation is different, and so is every refinance. Our loan officers will take the time to understand your goals, run the numbers, and help you make a decision you feel great about. No jargon, no pressure. Just clear answers and a path forward.
Get Started