Join Our Team 386-690-5858 Search Homes
Own a home

Refinance and Home Equity

Lower your payment, shorten your term or put your equity to work, with Megan and Ryan, Mortgage Bankers with The Federal Savings Bank.

Options

Six Ways to Use Your Loan and Equity

Rate and term refinance

Replace your loan with a new rate or term, such as 30 years to 15, or an adjustable rate to a fixed rate.

Cash-out refinance

Borrow more than you owe and take the difference in cash for improvements, debt payoff or education.

FHA Streamline

For current FHA loans: lower the payment with less paperwork and often no new appraisal.

VA rate reduction

The VA Interest Rate Reduction Refinance Loan: a simpler path to a lower rate for VA borrowers.

Reverse mortgage

Homeowners 62 and up use their equity with no monthly mortgage payment while they live in the home.

Rate buydown

Pay points, or ask the seller for a credit, to lower the rate on a purchase or a refinance.

Living room with a fireplace
When it pays

When Refinancing Makes Sense

  • Rates sit well below your current rate
  • You stay in the home long enough to pass the break-even point on costs
  • Your credit score has climbed since you bought
  • You want a shorter term or a fixed rate
  • You need cash for a project or to pay off higher interest debt

Megan and Ryan run the break-even math on your real numbers before you decide.

Coastal home with a new pool
Your equity

Know What Your Home Is Worth Today

Equity is your home value minus what you owe. Check your value, then ask about a cash-out refinance or a reverse mortgage.

Questions? Ask Winslow Bot

Instant answers on programs, payments, towns and homes, any time, in English or Spanish. Ryan and Megan follow up personally.

Mortgage calculators

Estimates from your inputs only. Not a loan offer, rate quote or approval. Ryan and Megan, Mortgage Bankers with The Federal Savings Bank (NMLS #411500), confirm real numbers.

Megan Winslow, Mortgage Banker, NMLS #2692933. Ryan Winslow, Mortgage Banker, NMLS #2426605. Mortgage Bankers with The Federal Savings Bank, NMLS #411500, lending in all 50 states. Equal Housing Lender. Rates, payments and programs are examples, change daily and depend on credit, property and loan program. This is not a commitment to lend. Verify at NMLS Consumer Access.

Next step

Start Your Pre-Approval

Apply online in about 15 minutes, or call or text Megan and Ryan with a question first.

Apply for a mortgage