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Refinancing a Home

First PREMIER Bank

Put Your Home Equity to Work

When you refinance your home loan, you are essentially taking out a new home loan and paying off your original one. A refinance can be beneficial in reducing your interest rate, monthly payment or life of your loan. A cash-out refinance allows you to use the equity in your home to make improvements, consolidate debt or pay for other large purchases. If you’re considering a refinance, First PREMIER Bank’s experienced mortgage bankers can help you find a financial solution that’s right for your budget and situation.

couple sitting on couch looking at bank statements

What is Your Goal?

  • Consolidate Debt
  • Cancel Private Mortgage Insurance (PMI)
  • Change loan type (avoid balloon payments or variable rates)
  • Save money on total interest paid
  • Reduce monthly payments
  • Shorten the loan term
Apply Online

Calculate Your Payment

Estimate your payment with our library of online mortgage calculators and financial tools.

Learn More

Apply Online

Apply for your home loan with our easy and secure online mortgage application.

Learn More

Home Mortgage Options

MAY BE FOR YOU IF YOU ...

BENEFITS ...

CONVENTIONAL 
FIXED RATE LOAN

  • Keep the property for a long time
  • Have established credit history
  • Can put down 5%
  • Low fixed rates for eligible buyers

ADJUSTABLE
RATE LOAN

  • Have established credit history
  • May move within a few years
  • Can put down 5%
  • Lowest short-term rates
  • Initial lower monthly payments
  • Initial rate periods of 3-10 years before adjust up or down

FHA LOANS

  • Have limited down payment funds
  • Have a weak credit history
  • Low down payment
  • Flexible qualification guidelines
  • Fixed-rate

VA LOANS

  • Are active military
  • Are a veteran
  • Are a surviving spouse of service member who died as a result of military service
  • Low-to-no down payment
  • No mortgage insurance requirement
  • Flexible qualification guidelines
  • Fixed and Adjustable Rates

JUMBO LOANS

  • Purchase a home > $726,200
  • Have established credit history

 

  • Low down payment options
  • Increased purchase limits
  • Fixed or adjustable rates

SDHDA LOANS

  • Haven't owned a principal residence during the past three years
  • Meet income guidelines
  • Meet other program guidelines
  • Below market rates to qualified buyers

INVESTMENT
PROPERTY
LOANS

  • Are a landlord
  • Are buying a second home
  • Financing for residential properties with multi-units
  • Many loan options to choose from

NEW
CONSTRUCTION
& LOT LOANS

  • Are building a custom home
  • Are buying a lot for a future home
  • Financing for new construction
  • Construction-to-permanent loans
  • Many options to choose from

MAY BE FOR YOU IF YOU ...

CONVENTIONAL 
FIXED RATE LOAN

  • Keep the property for a long time
  • Have established credit history
  • Can put down 5%

ADJUSTABLE
RATE LOAN

  • Have established credit history
  • May move within a few years
  • Can put down 5%

FHA LOANS

  • Have limited down payment funds
  • Have a weak credit history

VA LOANS

  • Are active military
  • Are a veteran
  • Are a surviving spouse of service member who died as a result of military service

JUMBO LOANS

  • Purchase a home > $726,200
  • Have established credit history

 

SDHDA LOANS

  • Haven't owned a principal residence during the past three years
  • Meet income guidelines
  • Meet other program guidelines

INVESTMENT
PROPERTY
LOANS

  • Are a landlord
  • Are buying a second home

NEW
CONSTRUCTION
& LOT LOANS

  • Are building a custom home
  • Are buying a lot for a future home
 

BENEFITS ...

CONVENTIONAL 
FIXED RATE LOAN

  • Low fixed rates for eligible buyers

ADJUSTABLE
RATE LOAN

  • Lowest short-term rates
  • Initial lower monthly payments
  • Initial rate periods of 3-10 years before adjust up or down

FHA LOANS

  • Low down payment
  • Flexible qualification guidelines
  • Fixed-rate

VA LOANS

  • Low-to-no down payment
  • No mortgage insurance requirement
  • Flexible qualification guidelines
  • Fixed and Adjustable Rates

JUMBO LOANS

  • Low down payment options
  • Increased purchase limits
  • Fixed or adjustable rates

SDHDA LOANS

  • Below market rates to qualified buyers

INVESTMENT
PROPERTY
LOANS

  • Financing for residential properties with multi-units
  • Many loan options to choose from

NEW
CONSTRUCTION
& LOT LOANS

  • Financing for new construction
  • Construction-to-permanent loans
  • Many options to choose from
 
First PREMIER Bank First PREMIER Bank


Our Commitment to You

  • Keep your interests at heart
  • Provide responsive, personal service
  • Clearly explain the process and timeline
  • Disclose fees in a forthright manner
  • Ensure speed and efficiency from application to closure
Apply Online
First PREMIER Bank