If you’re an existing customer with a U.S. Bank first mortgage or U.S. Bank Personal Checking Package, you may be eligible for a customer credit on the closing costs of your next mortgage.1 Take 0.25% of your next first mortgage loan amount and deduct it from the closing costs, up to a maximum of $1,000.2 Refinancing may make it possible to reduce your loan term or qualify for a lower interest rate. There are several loan options for refinancing, both conventional loans and government-backed, such as VA Interest Rate Reduction Refinance Loan (IRRRL) or Federal Housing Administration (FHA) Streamline Refinance.
If your mortgage is with another lender, U.S. Bank offers other refinancing options to lower your interest rate and change the term of your loan.
Refinancing into a lower interest rate means you could lower your monthly payment, leaving more money in your budget for other needs.
Depending on the remaining term of your current loan, you could shorten your loan term with the goal of building equity faster or paying off your home more quickly.
U.S. Bank offers Federal Housing Administration (FHA) Streamline Refinance and VA Interest Rate Reduction Refinance Loan (IRRRL) options.
Ready to get started? Our mortgage loan officers can answer all of your home refinance questions and help you find the mortgage that's right for you.