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Mortgage Refinance Options

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Rethink your monthly mortgage payment.

Whether you’re looking to cash in on your home’s equity, adjust your payoff timeline, or rethink your monthly payment, we’re here for you. Our individualized approach to lending means we get to know you and your unique situation to find the perfect home loan solution for your personal financial goals. Call 1-800-914-8224 to connect with a local lender and get started today.
 

Find your fit below.

Cash-Out Refinance

When you choose a cash-out refinance, you replace your current home loan with a new mortgage for more than you owe on your home. At closing, you receive the difference in cash. This type of refinancing allows homeowners to access equity built in their property. It's a way to utilize the value of your home for various financial needs or investments.
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Rate Term Refinance

When you choose a rate/term refinance, you’re replacing your current home loan with a new mortgage that has a different interest rate or term (length of loan).
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Fixed and Adjustable Rate Mortgages

Who has ARMs, legs and the fixed-rate mortgages that fit your needs? We do, of course. Popular for buying or refinancing, our fixed and adjustable rate mortgage options come in varying term lengths and can fit whatever square footage you're looking to move into.4
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Renovation Loan

If she said the she-shed needs to be built, like, tomorrow or if you've simply outgrown your space, we can help you get the loan you need. United’s benefits include fixed or ARM rate conventional and jumbo loan options. You can lock your interest rate in upfront, and even lower it to meet a better rate at final closing.
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Jumbo Loans

We offer higher-than-conventional loan limit options for those dreaming BIG. Whether you are buying, refinancing or finally adding that movie theater room, we have the fixed-rate and ARM options to fit your unique needs.
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VA Mortgage Loan

You have served us, so let us to support you. For all past and present military members, and surviving spouses who are looking for help with buying a new home, we can assist you with a VA Mortgage Loan. Take advantage of potentially no down payments or mortgage insurance, low fixed rates and various repayment options.
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Physician Mortgage

For licensed physicians and doctors, we’ve designed a unique lending program just for you. Special rates are available for licensed physicians, fellows, interns, residents and dentists. This program is available for purchases or refinances with no down payment options, are ARM programs and do not require any private mortgage insurance.
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Frequently Asked Questions

With a cash-out refinance, you can turn your home equity into cash for any purpose, not just home improvements. Common reasons for a cash-out refinance are consolidating higher-interest credit card debt at a lower interest rate and paying for higher education.

With a cash-out refinance, the amount of your loan and your monthly payments will go up, but the interest rate on the cash you take out may be lower than other alternatives.

To learn more, check out this article: How Does a Cash-Out Refi Work?
 
You don’t. There are two other options: a home equity loan (HELoan) and a home equity line of credit (HELOC).

A HELoan is a second mortgage that usually has a fixed interest rate and monthly payments of the same amount every month. A HELOC works more like a credit card, but the interest rate is typically lower than a credit card.

You have a maximum amount you can borrow as needed. HELOCs usually have a variable interest rate and monthly payments that may go up or down.

Take a closer look at the differences: Should You Consider a HELOC or HELoan?
After you apply for a loan, your mortgage loan originator will ask if you want to lock in your interest rate. It’s a lender’s guarantee that your interest rate won’t change for a certain period of time, even if market rates go up. The lock is a holding period designed to last throughout the mortgage process and closing day.

Stop by one of our locations near you to speak with a loan officer or use our locator tool to find a mortgage loan officer.

If you'd like to speak with one of our customer support representatives, please call us at 1-800-UCBANK1 (1-800-822-2651).

It may be a good idea to refinance if you can:
  • Get a lower interest rate
  • Eliminate the expense of Private Mortgage Insurance (PMI)
Usually, a conventional loan requires 20% equity in your home and a good credit score of 620 or higher. If you’re not in this position right now, it can be a goal to work toward.

Get Seven Tips for Improving Your Credit Score.

Keep in mind that when you refinance, you’ll likely need to cover the cost of closing costs and fees.
It’s usually not the best idea to refinance before selling because you may not have time to recoup the expenses of closing costs and fees. A new home loan may also complicate the selling and buying processes. If you need to make home improvements before selling, a home equity line of credit (HELOC) or home equity loan (HELoan) may be a better option.

Learn more about HELOCs and HELoans: Should You Consider a HELOC or HELoan?
Everyone’s financial situation is different, but it may make sense for you to refinance your home, taking cash out to consolidate other debt that has higher interest rates like credit cards. When you pay less interest, you gain the opportunity to pay down your debt faster and improve your credit score.

Ask your mortgage lender about your options.
If you can refinance your home loan at a lower interest rate that frees up more of your income to buy a car, it may be a good move for you. It’s generally not recommended to take equity out of your home to buy a car, because a car is a depreciating asset that loses value over time, and if you can’t make the car payments, you may be at risk of losing your home.
Refinancing is something to consider if it allows you to:
  • Lower your interest rate
  • Reduce your monthly payments
  • Shorten your loan term
In making your decision, keep refinancing closing costs and fees in mind. Refinancing may not be worth it if you don’t plan to stay in your home long term. Talk with your mortgage lender to discuss the specifics of your situation.
Generally, people refinance their homes to take advantage of lower interest rates. Other reasons include:
  • Covering unexpected financial challenges
  • Dealing with emergencies and medical expenses
  • Facilitating major life changes like getting married, starting a family or caring for aging parents 
  • Consolidating higher-rate credit card debt
Evaluate your options with your mortgage lender before you decide.

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Find Your Local Lender

Angie Abston

VP - Mortgage Loan Originator

NMLS# 773860

Tammy Acker

Mortgage Loan Originator

NMLS# 324771

Bob Alman

Mortgage Loan Originator

NMLS# 1178975

Jennifer Badger

Mortgage Loan Originator

NMLS# 473785

Susan Barkley

VP, Mortgage Originator

NMLS# 427473

Kevin Bennett

Mortgage Loan Originator

NMLS# 499232

Craig Bland

Mortgage Loan Originator

NMLS# 1687090

Jason Blodgett

VP - Mortgage Loan Originator

NMLS# 723213

Bailey Boshers

Mortgage Loan Originator

NMLS# 1833461

Paula Buckles

Mortgage Loan Originator

NMLS# 546299

Renee Burgess

VP - Mortgage Loan Originator

NMLS# 501421

Jeff Burgess

Mortgage Loan Originator

NMLS# 68803

Matt Burns

Mortgage Originator

NMLS# 789219

Russell Carmichael

Mortgage Loan Originator

NMLS# 1492025

Ali Cook

AVP, Mortgage Loan Originator

NMLS# 1769112

Beth Cunningham

Mortgage Loan Originator

NMLS# 193234

Michael Dietz

UCMS Regional Sales Manager

NMLS# 853773

Eric Dunlap

CRA Mortgage Loan Originator

NMLS# 1244238

Cathy Edwards

CRA - Mortgage Loan Originator

NMLS# 557382

Dwight Fortenberry

Mortgage Loan Originator

NMLS# 723229

Kelvin Goodwin

Mortgage Loan Originator

NMLS# 516216

Sherry Griggers

Mortgage Loan Originator

NMLS# 1562796

Brianna Grizzle

Mortgage Loan Originator

NMLS# 1974720

Dan Hegeman

Mortgage Loan Originator

NMLS# 1749909

Tabitha Helms

VP, Mortgage Originator

NMLS# 527461

Ryan Hulton

VP, Mortgage Originator/Regional Sales Manager

NMLS# 523081

Jennine Hunter

AVP - CRA Mortgage Loan Originator

NMLS# 1780411

Joy Hutsell-Banks

VP- Mortgage Loan Originator

NMLS# 603159

Courtney Johnston

VP - Mortgage Loan Originator

NMLS# 1450800

David Jolly

AVP - Mortgage Loan Originator

NMLS# 395787

Jenny Keenan

VP - UCMS Regional Sales Manager

NMLS# 916287

Betsy Kelly

Mortgage Loan Originator

NMLS# 1451484

Adam Kirby

Mortgage Loan Originator

NMLS# 545555

Gwenn Lanning

VP - Mortgage Loan Originator

NMLS# 643797

Steve Ledford

Mortgage Loan Originator

NMLS# 1370117

Bobby Matthews, Jr.

VP - Regional Sales Manager

NMLS# 472433

Kitty Mauzy

AVP - Mortgage Loan Originator

NMLS# 512515

Kathy McClure

Mortgage Loan Originator

NMLS# 486300

Lauri McCray

SVP - Director of Mortgage Operations

Blake McPherson

Mortgage Loan Originator

NMLS# 1535320

Matt Meissner

Mortgage Area Sales Manager

NMLS# 262525

Lisa Mericle

VP - Mortgage Loan Originator

NMLS# 527465

Jose Moreno

Mortgage Loan Originator

NMLS# 561490

Nick Morrone

Mortgage Loan Originator

NMLS# 1795139

Scott Nation

VP, Mortgage Originator/Regional Sales Manager

NMLS# 546490

Kara Nungesser

AVP - Mortgage Loan Originator

NMLS# 1714906

Patti Peterson

VP, Mortgage Loan Originator

NMLS# 759440

Jamie Pimentel

VP - UCMS Mortgage Area Sales Manager

NMLS# 281439

Lisa Pittman

VP - Mortgage Loan Originator

NMLS# 767051

Bart Poynor

Mortgage Loan Originator

NMLS# 188427

Fiorella Rastelli

CRA Mortgage Loan Originator

NMLS# 2444165

Mikell Richards

VP, Mortgage Originator/Regional Sales Manager

NMLS# 607894

Donna Robertson

AVP - Mortgage Loan Originator

NMLS# 1715410

Anna Robison

Mortgage Loan Originator

NMLS# 171224

Doug Schoonmaker

VP - UCMS Mortgage Area Sales Manager

NMLS# 659126

Paul Secondi

AVP, Mortgage Loan Originator

NMLS# 55233

Bryan Segers

Mortgage Loan Originator

NMLS# 1715257

Roseanne Smith

VP, Mortgage Originator

NMLS# 464057

Ryan Smith

VP, Mortgage Originator

NMLS# 112493

Erica Smith

Mortgage Loan Originator

NMLS# 2316979

Marie Spafford

VP - Mortgage Loan Originator

NMLS# 532523

Cindy Stone

VP - Mortgage Loan Originator

NMLS# 1216150

Carolyn Swanner

VP - Mortgage Loan Originator

NMLS# 643804

Ginny B. Terry

Mortgage Loan Originator

NMLS# 686745

David Turner

VP - Mortgage Loan Originator

NMLS# 546621

Susan Visi

Mortgage Loan Originator

NMLS# 792258

Kim Witte

VP - Mortgage Loan Originator

NMLS# 455507

Woody Woodfin

SVP, Regional Sales Manager

NMLS# 457100

man working on his home with a home equity loan

Not Ready to Refinance?

Try Leveraging Your Home's Equity.

Sometimes it's just not the right time to refinance. Your home could still lend you a hand without you having to refinance your home. Consider a Home Equity Line of Credit (HELOC) or a Home Equity Loan. It might just be the solution you're looking for. 

  1. Not all borrowers will qualify. This is not a commitment to lend. Benefits listed may not apply to every borrower.
    ARM loans are variable rate loans. Interest rates and payments may increase after consummation. After the initial fixed-rate period, your interest rate can increase or decrease every six months according to the market index. Any change may significantly impact your monthly payment. 
    © 2023 United Community Bank | NMLS# 421841 | ucbi.com/mortgage | United Community Mortgage Services is the mortgage lending division of United Community Bank. We are an approved seller/servicer for the Federal National Mortgage Association (Fannie Mae) and the Federal Home Mortgage Corporation (Freddie Mac). Normal credit criteria apply.  This is not a commitment to lend.  Offer subject to change without notice.

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