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Mortgage Refinance

We make it easy to get the lowest mortgage refinance interest rate in your area

Our loan specialists can customize a loan that is perfect for your needs. In no time at all you can be on the way to a lower interest rate, a lower monthly payment, or switching from an adjustable rate mortgage to a fixed rate mortgage.

When Should I Refinance?

The best time to refinance is when interest rates in your area drop below the rate of your current mortgage. With a lower interest rate, you'll save money on your mortgage payment every month. Be sure to read our article titled Reasons to Refinance Now.

Turn Your Adjustable Rate into a Fixed Rate

With adjustable rates on the rise you can benefit greatly from refinancing your home for a low fixed rate. These benefits include a lower monthly mortgage payment, and the security of knowing your mortgage payment won't increase.

Cash-Out Refinancing

Using the equity in your home, you can refinance your mortgage for a higher amount than your current principal balance and receive the extra funds as cash. You can use this money however you would like, including, remodeling your home, paying off high-interest rate credit cards, paying off student loans, or consolidating all your debt. How much cash out you can receive by refinancing depends largely upon the principal balance remaining on your mortgage and the amount of equity in your home.

Eliminate PMI

Private Mortgage Insurance is usually required if your down payment on your home was less than 20 percent. If your home equity has increased since your purchase, you may have enough equity to eliminate that PMI payment by refinancing your mortgage.

Save Thousands in Interest

When you refinance your home you can decide to switch your mortgage to a shorter term, such as 10, 15, or 20 years. Depending on how much lower the refinance rate is, you will likely pay more per month for this shorter term home loan. However, in the long-term you are saving thousands in interest. And because more of your monthly mortgage payment goes towards the principal, your home equity will increase much quicker.

Mortgage Refinance Calculators

Mortgage Payment Calculator
Refinance Savings Calculator
Refinance APR Calculator
Refinance Points Calculator 

Refinance Articles

Reasons to Refinance Now
Beat the Subprime Mortgage Crisis 

Return to mortgage refinance in the state of NC

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Aberdeen, North Carolina News
Big Festivities to Mark July Fourth

Moore County will celebrate its patriotism Saturday with a variety of events for this year's Independence Day, offering both locals and visitors a fun, commemorative and authentic holiday experience.


Some Close Friday for July 4 Holiday

With Independence Day falling on a Saturday this year, state, county and municipal offices will be closed Friday for the annual holiday.


Four Charged in Assaulting, Robbing Man

An assault of a handicapped Cameron man, and the theft of two rifles and cash, resulted in the arrest of four individuals by Moore County Sheriff's Office investigators.


Authorities are looking for a Moore County woman.

Authorities issued a Silver Alert for a Moore County woman Sunday evening. They say 65-year-old Clara Jones was last seen at the Sunset Inn in Aberdeen.


Pilot Light: County OK's Seeking Grants

The Moore County Board of Commissioners on Monday approved District Attorney Maureen Krueger's request to pursue two grants.


Raffle Benefits Local Vietnam Veterans

Moore County Chapter No. 966 of Vietnam Veterans of America raises money through a raffle to support needs of local veterans of all eras.


Summer on the Porch: Singer-Songwriter Corinne West Performs Sunday

California comes to North Carolina Sunday, June 14, as singer-songwriter Corinne West steps onto the porch at the Postmaster's House in Aberdeen.


Hitting Home: Sheriff's Son Held on Drugs

Illegal dealing in prescription drugs, an ever-growing problem in Moore County, has hit close to home for Sheriff Lane Carter.


Region played role in D-Day invasion

For most of us, Saturday will come and go without notice of what happened on that date in June of 1944.


Pilot Light: County Lowest On Risk Claims

Moore County had the lowest number of workers' compensation claims in the state for the past year.


Weymouth Hosts Seventh Annual Garden Tour

The seventh annual Weymouth Garden Tour will offer garden lovers the opportunity to stroll through and become immersed in gardens that before could only be reflected upon by looking over the fence or by wistfully peering from the street trying to imagine what delights could be experienced within the garden setting.


Potter Earns Junior Builders Cup Award

Pinecrest High School senior Meredith Potter on Wednesday received the Junior Builders Cup Award and a $2,500 scholarship from the Kiwanis Club of the Sandhills.


Veterans' Sacrifice Honored

Kathy Wilford looked around at the 200-plus people seated in the Village Chapel in Pinehurst on Monday afternoon "Everyone in this room has a story," she offered.


Hankins-McLeod

Ms. Bonita Hankins of Darlington announces the engagement of her daughter, Kimaada Monique Hankins, to Rolando Maurice McLeod, son of Mr.


Pilot Light: Grant Continues Aging Funds

The Moore County Department of Aging will receive funding to continue most of its principal programs in the new fiscal year.


Wreck Backs Up Traffic on U.S. 1 in Aberdeen

Traffic on U.S. 1 North in Aberdeen was backed up this afternoon after a car crashed into a utility pole near Bonnie Brook Drive in front of Bethesda Presbyterian Church.


Wallace Johnson, 82

Dr. Wallace Johnson, 82 died Sunday morning May 17, 2009 at UIHC following a short illness.


Chrysler Sticks With McBrayer

Mike McBrayer got some good news from Chrysler last week: He will remain one of its dealers.


He's Got the Blues: Scott Ainslie Performs Final Home Fires Burning Concert

The Rooster's Wife extends the winter season well into spring with the last concert in the Home Fires Burning series, Wednesday, May 13, at 7:30 p.m. Blues historian and musician Scott Ainslie comes to downtown Aberdeen with a presentation that will introduce the audience to the rich cultural background and the roots of contemporary and traditional ...


Policemen Killed in Line of Duty Recognized

National Police Week started Sunday and runs through Saturday, with Friday being designated as Peace Officers Memorial Day.


Save time with our easy online mortgage application.
With Somerset's many FHA home loan programs, owning your dream home is more than just a dream.
 
"...I was sure that Somerset was the right choice...they couldn't have been more compassionate or understanding...I just couldn't believe that this all happened within a week...Thanks to my loan officer and all the rest of those great people at Somerset, my family will be able to stay in the only home they have known for some time, without fear of being put out." - Tom N.
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