Mortgage Refinance

Refinancing replaces your current mortgage with a new one to secure a lower interest rate or different loan terms. At VCNB, we can help guide you through the process to meet your financial goals of lower your terms, payment, or paying your mortgage off faster.

The number one reason to refinance is to lock in a lower rate if you financed your home at a higher interest rate. Refinancing can also reduce your monthly payments, increase or decrease your term, or consolidate debt.

It’s best to refinance when interest rates are lower than your current rate or when your financial situation improves.

Documents typically include proof of income, tax returns, current mortgage statements, and personal identification. Your VCNB mortgage loan officer will provide a list of everything they will need to get your mortgage refinance started.

You can apply online, by phone, or at a local branch. VCNB provides easy access for the pre-qualification process.

Savings depend on the difference between your current rate and the new one, along with the loan term.

While good credit is ideal, refinancing may still be possible depending on your circumstances. When you start the process, a VCNB mortgage loan officer will walk you through your credit score and provide mortgage options for your home.

Refinancing can take several weeks depending on the complexity of your application and documentation. Get started today and lock in a low interest rate with VCNB.