Refinancing Your MACLT Home

Some reasons you may want to refinance:

  • If interest rates have dropped since you last financed your home. (Remember that you need to factor in loan application fees and closing costs, which can be about $1500.)
  • If you have an adjustable rate mortgage and you want to convert it to a long-term fixed-rate loan.
  • If you want to get a shorter loan term in order to pay off your loan earlier (like going from a 30-year loan to a 20-year loan).
  • If you would like to take out cash from the equity you have invested in your home to do a Qualified Capital Improvement on your home (make sure to talk to staff about this!)
  • If you have a second mortgage or other debt you want to pay off.

Frequently Asked Questions

What steps should I take?

Should I expect my lender to contact me when interest rates go down?

How much can I borrow against my home?

Which lenders will refinance a MACLT home?