1 Subject to credit and property approval. Rates, program terms, and conditions are subject to change without notice. Not all products are available in all states and for all loan amounts. Other restrictions and limitations may apply. The actual terms of the loan will depend upon the specific characteristics of the loan transaction, the applicant’s credit history, and other financial circumstances that may apply.
Even if your new loan has a lower rate or payment, refinancing may be more expensive. Things like extending your loan term or financing closing costs can increase the total amount of interest you are required to pay. In addition, you should always consider the risks of refinancing to an adjustable rate loan, as higher interest rates in the future may result in you paying more on the new loan.
2 Servicemembers on active duty and their co-borrowers should consult a legal advisor about whether refinancing their current loan may result in loss of benefits to which they may be entitled under the Servicemembers Civil Relief Act or applicable state law.