Online Banking

Get the app

Forgot Password / Enroll

Online Banking Login


Refinance Your Home

You've heard about how refinancing has helped someone you know, and it may have caused you to wonder if it’s the right choice for you. Let’s sort through the details to see what refinancing a home looks like.
Refinancing is the process by which a homeowner may negotiate a lower interest rate on a mortgage, thereby lowering monthly payments. Homeowners will end up with a new mortgage to replace the original. In working out the new mortgage, it is possible to reduce monthly payments, lower your interest rates, use some of your equity amount for large purchases, or change mortgage companies.

Is Refinancing Right for You?

Question 1

Are you concerned about saving money or paying off your home sooner?

Simply put, refinancing your home to a lower interest rate can lower the payment or shorten the length of the loan, saving you money.

Question 2

Has it become difficult to make your home mortgage payments?

Costs are up in many areas of life – but mortgage interest rates may have fallen below the rate on your current mortgage. If market rates drop 1% below your current interest rate, it might be worth it to refinance.

Question 3

Do you have a perfect credit history or has your credit score improved?

In that event, refinancing could work in your favor to convert a variable loan rate to one that is fixed, if it will provide a lower interest rate.

Question 4

Are you early in the term of your mortgage loan and intend to stay in your home for more than a few years?

If so, your payments are mostly going towards interest, so refinancing could benefit you more now than later in the term when payments are going more toward the principal.

Question 5

Has your home greatly appreciated in value?

By refinancing, you take advantage of your home's increased equity (the dollar value difference between the balance you owe on your mortgage and the market value of your property). You can borrow against that equity to pay for other expenses. One option is to refinance and get cash out. In Texas, that option is called a home equity loan.

Your Results

Is refinancing right for you?

If you answered yes to one or more of the previous questions, it's time to make an appointment with us!




Refinancing starts you off with a new mortgage. You will now be back to the beginning of the payment process – but the benefits just might be worth it. Refinancing generally costs between 3% and 6% of the loan's principal. Visit with a CNB&T mortgage lender, and we will help you discover if it is advantageous for you to refinance.

Wondering if refinancing could work for you? Let’s talk!