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A Home Refinancing Loan replaces your existing home mortgages and liens with a home equity loan. There are several advantages to getting a Home Refinancing Loan instead of a conventional mortgage including: no points or prepayment penalties, a loan decision within one day and the ability to build equity faster than with a conventional mortgage.
Dollar Bank offers two types of Home Refinancing Loans. Our fixed rate loan has terms ranging up to 180 months and our Win-Win adjustable rate loan has terms of 120 or 180 months available. Both loan types include the benefit of a fixed monthly payment for budgeting ease. Dollar Bank offers a wide range of terms and low rates so you can build your equity faster while keeping your payments low!
After assuming the balance of your existing home mortgages and liens, you can use the additional equity available for a number of purposes, including debt consolidation, home improvement, education or auto purchase. And because a Home Refinancing Loan is secured by your home, the interest paid may be tax deductible.*
* Consult your tax advisor regarding the deductibility of interest.
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