Home Mortgage Refinancing
Are you looking to refinance your mortgage in Central PA? As a longtime community bank serving the people of Juniata, Huntingdon, McKean, Mifflin, Perry, Centre, and Potter counties, JVB offers local expertise in the home refinance process. All of our lending decisions are made locally, giving us greater flexibility to help you find the right loan terms to meet your needs.
What is Mortgage Refinancing?
To refinance your house simply means taking out a new mortgage loan that pays off the previous one.
Mortgage Refinancing Benefits
- Get a lower rate: If interest rates have gone down since you bought the house, you may be able to refinance into a lower rate.
- Lower monthly payment: Mortgage refinance can help you find better terms that, perhaps in combination with a lower rate, will reduce your monthly mortgage payment.
- Switch from ARM to fixed-rate: If your first mortgage was an ARM loan and you’ve reached the end of the initial period, you may be able to refinance into a fixed-rate loan.
- Cash-out: This type of mortgage refinance allows you to convert the equity in your home to cash.
When to Refinance a Mortgage
If you want to take advantage of lower interest rates, reduce your monthly mortgage payment, switch to a conforming or fixed-rate loan, or tap the equity in your home to pay for a renovation project or major expense, a mortgage refinance may be the best option for you. You can also use a government-insured loan program such as FHA, VA, and USDA to refinance your house.
Bank Right at JVB
From 1867, when JVB opened its first location, to the present day with 15 community offices in Blairs Mills, McAlisterville, Mifflintown, Port Royal, Richfield, Port Allegany, Lillibridge, Burnham, Reedsville, Lewistown, Millerstown, Coudersport, Liverpool, or our loan office in State College, our priority has always been to provide the best financial services for our customers. Whether you are looking for mortgage refinancing or any of our other personal and business lending products, you can expect the highest levels of integrity and respect from our team of lenders and branch employees.
Contact us to learn more about Mortgage Refinancing!
Is a home refinance your best option? Our Pennsylvania-based loan officers can help you determine your eligibility and explore your home loan options. JVB is a trusted local mortgage lender with a long history in your Central PA or Northern Tier community.
Whether in person or online, the mortgage team at JVB is ready to answer your questions about the mortgage refinancing process. Call the JVB Customer Care Center to be connected to one of our experienced home loan lenders at 1-855-582-5101, visit a JVB community office near you, or apply online today. We look forward to hearing from you!
Mortgage Refinance FAQs
The process is very similar to that of applying for your original mortgage. You must submit personal and financial documentation, go through a home appraisal, and attend the loan closing.
The timeline--about 20-45 days--is also similar to the conventional mortgage process.
You will have to pay lender fees, taxes, and closing costs on your new mortgage, so make sure the monthly savings will make the upfront costs worth it.