There are a number of reasons to refinance your home—maybe rates have decreased since your last mortgage, maybe you have equity and you want to get cash out, or maybe you can now afford a larger payment. No matter the reason, Amboy Bank can help with our expert advice and array of mortgages.
If you’re refinancing your home, one of the main reasons is because you want to save on interest expense. Amboy Bank’s ½ Pay Mortgage® allows you to pay your mortgage biweekly, which shaves off years of payments, allowing you to build equity faster and save thousands in interest. With a conventional mortgage, you make one payment every month. But with our 1/2 Pay Mortgage®, you make one half of that payment every two weeks. That’s the equivalent of one extra payment every year, and the savings add up!
Use our calculator below to estimate how much you can save over the life of your loan. Then explore our 1/2 Pay Mortgage® mortgage options or get the process started right away!
Your ability to qualify for a mortgage refinance depends on the value of your home and your household’s perceived ability to make timely mortgage payments. Amboy looks at a variety of factors when reviewing a loan request, and we don’t only judge you based on your credit score.
Amboy Bank can help you work through the numbers and find a mortgage for you. Explore our mortgage options or get the process started right away!
Amboy Bank offers cash-out refinances for those who want to tap into some their home’s equity. The cash-out amount depends on your home’s value and how much payment you can afford.
As an alternative to cash-out, Amboy offers a Choice Home Equity Loan with qualifying refinances. This way, you can use only what you need as you need it, instead of taking a lump payment.
The decision to refinance a home mortgage can involve many factors. You might want to take cash out of your home at when you refinance to use for other purposes. Or, you might want to obtain a lower interest rate and/or lower your payments. Or, maybe you can afford a higher payment and want to decrease your term so that you save money in the long run.
Use our calculator below to see if now is the right time to refinance your mortgage. Then explore our mortgage options or get the process started right away!
We offer a number of mortgage types with a variety of terms. Whether you’re looking for a fixed, adjustable, biweekly, jumbo, or traditional mortgage, Amboy has you covered. Below are some of our most popular.
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