Refinancing your Home | First Interstate Bank

Refinancing your home replaces your current mortgage with a new mortgage. There are two refinance options, depending on what you hope to achieve.

Traditional Refinance

A traditional refinance may help decrease payments or change the term of the loan. Traditional refinances most commonly offer a lower interest rate, change the length of the loan in years, or cancel mortgage insurance premiums.

Cash-Out Refinance

A cash-out refinance lets you take advantage of the equity in your house by replacing your existing mortgage with a new mortgage for up to a certain percent of the value of your house, and receiving cash for the difference between what you owed and the new mortgage.

Mortgage Resources

We know the home loan process can be a complicated affair. Our Mortgage Resources are designed to help explain the most common concepts and questions.

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