It's a great time to consider refinancing your home.

Refinancing your mortgage can be a great way to improve your financial situation. By accessing the equity in your home through a refinance from Southern Trust Mortgage, you could lower your monthly payment, pay off your mortgage faster, consolidate your debt, convert from an ARM to a fixed-rate loan, or even eliminate private mortgage insurance. Make sure to speak with a Southern Trust loan officer in your area to see all of your options!

Popular Refinance Benefits and Options

Lower Your Mortgage Payment

Refinancing to a lower rate can reduce your monthly payment, potentially saving you thousands over time. With a lower monthly payment, you will also have increased cash flow which could be used for paying off debts, saving for college, retirement, or any other purpose. By refinancing your existing mortgage, the total finance charges may be higher over the life of the loan.

Pay off Your Mortgage Faster

Refinancing your home can be structured to pay off your home quicker. You could get a 20, 15 or even a 10-year fixed loan instead of refinancing into a 30-year mortgage.

Access Your Home's Equity

Need cash for college tuition, home improvements or any other major expenses? Getting cash out on some or all the available equity in your home is typically a much better option than using credit cards or getting a personal loan.

Drop Private Mortgage Insurance (PMI)

You may be paying PMI if you were unable to make a down payment of at least 20% when you first obtained your mortgage. By refinancing, you may be able to refinance to eliminate your monthly PMI. In addition, you may lower your rate and monthly mortgage payment too.

Consolidate Your Debt

Credit cards, auto loans, and other forms of debt typically have a much higher interest rate. By consolidating these debts and rolling them into your refinance, you could save big by having a lower rate. Also, the interest on your refinanced mortgage is tax deductible.

Convert from an ARM to a Fixed Rate

When mortgage rates are low, adjustable rate mortgages (ARMs) are great; however, as rates rise, the ARM loan can be increasingly more difficult to pay. Refinancing into a stable fixed rate can give you more peace of mind and allow for better budgeting of home finances.

Lowering your payment by refinancing

We can help you evaluate if refinancing makes sense given your current interest rate. Take a look at our Refinance Savings Calculator to see how a new rate and term could lower your monthly mortgage payment.

Our most popular loan options for lowering your monthly mortgage payment:

FHA loans – Refinance out of a rising mortgage payment with the fixed-rate security of a government-insured FHA loan. Find out if you could refinance without an appraisal with an FHA Streamline.
Adjustable Rate Mortgages – If you plan not to stay in your home. Get the lowest rate available with a 5- or 7- year ARM and potentially pay thousands less over a traditional fixed rate mortgage for the first 5 or 7 years of your loan.
VA Loans – These loans offer military veterans exceptional benefits, including low interest rates and no downpayment required.

By refinancing your existing mortgage, the total finance charges may be higher over the life of the loan.

Accessing Your Home's Equity

A cash-out refinance can help your financial needs

Use your home equity to your advantage! Get money out of your home and use it for anything you want.
Make home improvements to increase the value of your home, pay for college tuition, pay off high-interest credit card debt, or buy a vacation home.
Even if you have imperfect credit, we can help. Paying off your higher-interest debts faster can even improve your overall credit rating.

Consolidating Your Debt by Refinancing

Take control of your financial situation:

Through refinancing to a lower rate, use the extra cash to pay off your higher-interest debt.
Make one low monthly mortgage payment instead of making several payments to sources like credit cards, student loans, etc. and pay less overall every month. Unlike credit cards, the interest from your mortgage is usually tax deductible.* (*Please consult your tax advisor.)
Even if you have imperfect credit, we can help. Paying off your higher-interest debts faster can even improve your overall credit rating.
Do you have two mortgages that you’d like to consolidate? We can help you refinance both loans into one low rate. This could significantly reduce your monthly mortgage payment.

Why trust Southern Trust with your home financing?

Founded in 1998, Southern Trust Mortgage is a full-service mortgage lender. We offer diverse mortgage products designed to meet any home financing need. Our continued success is a result of the outstanding customer service we offer our clients and business partners. All of our loans are expedited through local processing, underwriting, and closing agents. Our industry-leading service truly sets Southern Trust Mortgage apart.