House

Refinancing

Whether you want to lower your mortgage interest rate, lower your monthly payment, shorten the term or maybe you need extra cash to pay off other debt, our team at Sentry Bank has custom refinancing solutions for you!

In any economic climate it can be difficult to make the payments on a home mortgage. Between possible high interest rates and an unstable economy, making mortgage payments may become tougher than you ever expected. Should you find yourself in this situation, it might be time to consider refinancing with Sentry Bank.

Fill out the form to the right to contact our team and we will get back to you as soon as we can!

What Is Refinancing?

When you refinance a home, you get a new mortgage, usually with the goal of lowering monthly payments, interest rates, shortening the term or getting extra cash for debt payoff or a big purchase. Most people refinance when they have equity in their home, which is the difference between the amount owed to the lender and the worth of the home.

Refinancing Options

There are two major types of refinancing options:

  • Rate-and-term refinancing allows you to refinance the remaining balance of your mortgage for a more affordable interest rate and term
  • Cash-out refinancing which allows you to take out a new mortgage for more than the previous mortgage, giving you cash to pay off existing debt or use for a big purchase

Other reasons people refinance are: to replace an adjustable-rate mortgage with a fixed-rate loan; to settle a divorce; or, to eliminate FHA mortgage insurance. Head to our home mortgages page to learn more about these terms.

Refinancing Process

The first thing you should do is speak with a mortgage lending representative, like Joe and Brad, to see what types of refinancing options are available to you for the goals you want to meet.

Once you know what your new mortgage will be, it’s time to figure out how feasible it is for you to pay it off, and how that will be accomplished. When refinancing, it can also benefit you to hire an attorney to decipher the meaning of some of the more complicated paperwork.

Are you ready to refinance your home? Fill out the form to the right to contact Joe and Brad and they will get in touch with you shortly!

Meet Our Mortgage Lending Team:

Joe Bye Mortgage Lender Guy Sentry Bank

Joe Bye has been in banking for about 15 years with most of his time spent as a lender. He has spent time in consumer, agricultural, and commercial lending, but his current expertise is home mortgage lending. He has been with Sentry Bank since 2013 and you can find him at our St Joseph location. 

NMLSR ID# 780986

Brad Eckhoff has over 15 years of banking and credit experience.  With a mortgage based background, Brad enjoys helping people find the right financing package for their specific situation.  Brad appreciates helping and watching customers progress in their financial goals. 

NMLSR ID# 1002576

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Fill out the form to the right to contact Joe and Brad and they will get in touch with you shortly.  In the meantime, check out our exclusive Home Buyer’s Guide Blog series where you can download a helpful guide that will take you through the whole buying process from start to finish.