Refinance FAQ

• How do I refinance my existing loan?
• How do I calculate the value of my property?
• Can I make extra principal payments so I can pay off
• the loan more quickly?
• What is a cash-out option?

How do I refinance my existing loan?

To refinance your loan in order to obtain a lower interest rate and start saving on your monthly payment, First Christian Financial can offer you the following loan products with the security of fixed-rate payments:

15-Year Fixed-Rate Refinance
Choose this if:

You want a shorter loan life and lower rate
Low monthly payments are not a priority
You're planning to stay in your house for more than 10 years especially if you're planning to completely pay off your loan

ROLLDOWN OPTION

Our roll down option allows you to refinance with few upfront fees! While the rate is slightly higher, you will pay few upfront fees to get your new loan. In effect, as long as our roll down rate is lower than your existing rate, it makes financial sense to refinance because there is little or mo cost in doing so.

CACH OUT OPTION

If your equity in your property qualifies, you can refinance with a loan amount grater than your current mortgage - and keep the difference! Use it for home improvement, debt consolidation, or whatever you want.

30-Year Fixed-Rate Refinance
Choose this when:

• You want low monthly payments that do not change
• You want a loan that's generally easier to qualify for
• You're planning to remain in your house less than 10 years
• You want the maximum tax advantage (please consult your tax adviser)

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How do I calculate the value of my property?