Refinancing Your Home

Rates are low — now is a great time to refi

Lower your monthly payment or shorten the life of your loan with refinancing help from UBT.

What can refinancing do for you?

Get a better interest rate

Rates are still near historic lows, so if you’re carrying a rate of 4.75% or higher, now may be a great time to refinance.

Lower monthly payments

A lower rate or longer term may help lower your monthly payment.

Pay it off sooner

If you have a 30-year home loan, refinancing to a 15-year mortgage might be a good choice. You’ll pay it off sooner and pay less in interest. 

Use your home’s equity

With a cash-out refinance, you can tap your home’s equity to get funds for whatever you choose. This is also a good option for consolidating debt. 

90% Cash-Out Refi

Get more out of your home’s equity

You may qualify for a cash-out refinance for up to 90% of your equity – most banks will only lend to 80% - and at a competitive rate. For example, suppose your home is worth $250,000, and you currently owe $100,000 on your mortgage. With a 90% cash-out refi, you could finance a new mortgage in the amount of $225,000 (or 90% of your home's value) and get $125,000 of it in cash. 

What can an extra 10% do for you?

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Couple working together on crunching the numbers

Should I refinance my home loan?

When interest rates drop, it's tempting to refinance your mortgage loan. But is it the right choice for you? Our refinancing calculator is designed to help you start that conversation by taking into account refinancing costs, current interest rates, and how long you plan to stay in your home.

Loan products subject to credit approval.

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