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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  

Local mortgage refinance directory for RI :
A B C D E F G H I J K L M N O P Q R S T U V W X Y Z
Carolina Charlestown Clayville Cranston
Central Falls Chepachet Coventry Cumberland

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(800) 675-9783

Rhode Island News
12 Rhode Islanders have played for the P-Bruins

While writing a story about Cody Wild that was in Sunday's Journal, I got to wondering how many Rhode Islanders had suited up for the Providence Bruins? After going over the names at hockeydb.com, to the best of my knowledge, Wild is both the 12th Rhode Islander and the 12th former Friar to wear the black and gold.


Rhode Island one of 16 finalists for federal education funds

Rhode Island is one of 16 finalists in the $4-billion federal Race to the Top competition, designed to reward states that embrace radical school reforms.


Indeglia nominated for seat on RI Supreme Court

A Rhode Island trial judge has been nominated for a seat on the state's highest court.


Study finds Rhode Island pension costs soaring

Rhode Island cannot afford the system that currently promises lifetime pension benefits to 19,733 retired public school teachers and state workers, according to a report released Sunday by the Rhode Island Public Expenditure Council that details soaring costs set to explode in the coming years.


Mollis proposes online form to help R.I. start-ups

In the first piece of significant regulatory reform to come out of Smith Hill in some time, Secretary of State A. Ralph Mollis has proposed an initiative to reduce the amount of time and paperwork it takes to start a business in Rhode Island.


Lawmakers debate DMV fee hikes

Rhode Island lawmakers are considering a proposal to raise rates at the Department of Motor Vehicles as a way to deal with the statea s budget deficit.


Georgia, S. Carolina among grant finalists

The U.S. Department of Education named 16 finalists Thursday in the first round of its "Race to the Top" competition, which will deliver $4.35 billion in school reform grants.


Governor Carcieri joins fight to ban "R" word

Governor Carcieri Proclaims March 3, 2010 "Spread the Word to End the Word Day" in Rhode Island, to Banish the Word "Retard" from Everyday Vocabulary Governor Donald L. Carcieri has proclaimed March 3, 2010 Spread the Word to End the Word Day in Rhode Island, joining a national movement to eliminate the word "retard" - the "R-word" - from everyday ...


Rhode Island joins national graduation effort

Rhode Island has joined 16 other states in a national effort to dramatically increase the number of young people who graduate from college, an economic and educational priority of the Obama administration.


Edward Achorn: Even Rhode Islanders, numbed by cynicism, are upset

Rhode Island voters are worried about the economy, the direction of their state and the capacity of their leaders to solve anything.


Census Bureau hiring in Rhode Island

The U.S. Census Bureau is seeking several recruiting assistants in Rhode Island; preferably bilingual in English and at least one of the following languages: Arabic, Khmer , Italian, Laotian, Portuguese/Creole, Russian or Spanish.


Census tries to reach Southeast Asians in Rhode Island

As the U.S. government prepares to count all its residents, community leaders and census officials Saturday launched efforts to ensure that Rhode Island's Southeast Asian residents are fully counted during the 2010 Census.


RI Adopts Rules for Medical Marijuana Stores

Health officials are setting rules for three stores in Rhode Island that could sell marijuana to patients registered with the state.


Body of Pawtucket Marine killed in Afghanistan returns to R.I.

Stephen Finneran was there. He tutored Kyle Coutu in chemistry "so he could graduate and join the Marines." Debbie Shook was there.


Could Rhode Island reform health care on its own?

Suppose a federal health-care overhaul doesn't happen. Suppose President Obama's summit Thursday leads to naught.


The Rhode Islanders still in the running in The Amazing Race

After two episodes, " The Amazing Race " reality show on CBS still has its full complement of Rhode Islanders: four of them, two teams of two.


Ben wants to know: Signs of Spring

With Spring right around the corner, Co-host Ben Hague took a trip to the RI Garden Show at the Convention Center to ask Rhode Islanders what the first signs of Spring are for them.


Last time I looked, NFW, Rhode Island and Massachusetts are

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States Struggle With Insurance Cost And Coverage In Ohio, Rhode Island And Nebraska

The Columbus Dispatch reports that a health-insurance co-operative founded by Tom Rose, a retired businessman from Marietta, Ohio, "hopes to give people who feel alone in the health-care market that power-in-numbers feeling.


Rhode Island's jobless tell different story about 'recovery'

For the frustrated folks who troop into the unemployment office in this fading industrial city every day to peruse the same paltry job offerings or tweak their resumes for the hundredth time, the trickle of positive economic data coming out of Washington is cold comfort.


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"Every other company said they could not help us. After speaking to about five companies, we really believed that no one could. Then we called Somerset, and your company proved us and those other companies wrong. We can't thank you enough for all your hard work and effort in getting us a low fixed rate. We can now breathe easier..." - L. Braun
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