Dollars and Sense
If the current value of your home has increased or you're eligible for a lower rate, refinancing might be the right option for you. Refinancing can be great if you're undergoing home improvement or debt consolidation, or if you want to lower your monthly payment.
Reasons to refinance:
- Pay off your balloon payment or interest only mortgage
- Take cash out to add a room or swimming pool, increasing the value of your home
- Reduce your interest rate and your monthly payment
- Build equity faster by shortening the term of your loan
Find more information about refinancing at the Suncoast Online Mortgage Center.
Home Affordable Refinance Program (HARP)
Suncoast is a Fannie Mae approved lender for the Home Affordable Refinance Program. If you're a homeowner and owe more than your home is worth, and your mortgage is owned by Fannie Mae, you may be able to refinance into a HARP mortgage loan. The HARP program was created to help those whose home value has fallen and have not been able to refinance due to insufficient equity in their home.
Refinancing to a HARP may help to:
- Lower your rate, even with little or no equity
- Reduce your payment by lowering your rate
- Reduce the total interest you pay by refinancing to a shorter term
Find out if your loan is owned by Fannie Mae or download the PDF to learn who can qualify for a HARP loan with Suncoast.
Apply Now for a HARP loan or check today's rates for a HARP loan.