Refinance

Knowing what's available and when to refinance is the first step1

Rates matter, but so do your long-term goals. Refinancing is about creating a mortgage strategy that supports your future. Understanding the bigger picture ensures that you make the right decisions for you and your situation.

Why refinance?
There are various reasons why refinancing your current home may make sense. Here are some examples:
  • Lower your interest rate and/or monthly payment
  • Shorten your term and potentially save on interest paid over the life of the loan
  • Consolidate your existing debt
  • Switch from an adjustable rate to a fixed rate
  • Access home equity for home improvements or cash-out
  • Life changing events (i.e., removing or adding a co-borrower)

How it works
Contact your local Mortgage Loan Officer to discuss your goals and explore the best option for your situation.
  • Review key factors such as:
    • Loan purpose to determine your goals and reason for refinancing
    • Review your current loan program and interest rate to identify options aligned with your goals
    • Home value to determine the available equity in your home
    • Credit score to determine eligibility and pricing
    • Loan term to choose a shorter or longer repayment period
You can apply online or directly with your Mortgage Loan Officer.

Have More Questions?

Thinking about refinancing? Our knowledgeable mortgage team at Bangor Savings Bank can walk you through your options and help you decide if it’s the best fit for your goals.

Contact Us

Refinance Calculator

Discover your potential monthly savings with a simple refinance estimate.

See if Refinancing Works for You

Debt Consolidation Calculator

Wondering if consolidating your debt could help you breathe a little easier? Try our calculator.

Start Calculating
1 Loans, credit cards, mortgages, and home equity lines of credit are subject to credit approval.