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Refinance

Refinance Your Home Mortgage

Knowing exactly when to refinance, what to expect, and whether it makes sense for you can be confusing and intimidating.  We can help you determine if refinancing will help you save money, lower your payment, or pay off your loan sooner.  We’ll talk to you about your options, so you can decide if refinancing your mortgage will benefit you. 

Our mortgage professionals will work with you to find the mortgage that’s right for you.  Throughout the process, our goal is to make you feel as comfortable as possible by answering your questions, keeping you informed, and explaining your financing options.  You can feel secure knowing KFS provides:

  • Approval in minutes, not days
  • Reduced paperwork
  • No application fee
  • Option to “Lock” interest rate at application
  • Competitive interest rates
  • Local Decisions
  • Local Servicing 

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Fixed Rate Residential Mortgages 

A fixed rate mortgage offers the security and stability of a fixed interest rate and a loan payment that never changes. This may be a good choice if you plan to stay in your home for seven years or longer.

Adjustable Rate Mortgage 

An adjustable rate mortgage (ARM) may be your best option if you prefer lower initial monthly payments or plan to relocate or trade up within a few years. We offer the following ARM products to meet your financing needs:

  • 1 Year ARM - The interest rate and monthly payment adjust every 12 months.  The interest rate change is “capped” so the rate cannot change more than 2% per adjustment and 6% over the life of the loan.
  • 3/3 ARM – The interest rate and monthly payment adjust every 36 months.  The interest rate change is “capped” so the rate cannot change more than 2% per adjustment and 6% over the life of the loan.
  • 5/1 ARM – The interest rate and monthly payment are fixed for the first 60 months then adjusts every 12 months. The interest rate change is “capped” so the rate cannot change more than 2% per adjustment and 6% over the life of the loan.

We also offer financing options for seasonal homes and camps, land, and investment property.  Contact a KFS lender to discuss the terms and rate options that are available. 

Preliminary Information Needed for Loan Application

  • Employer(s) name, address & phone number for past 2 years
  • W-2’s for the past 2 years
  • Pay stubs covering wages for the most recent 30-day period
  • Last 2 statements for all deposit accounts — checking, savings, investment, IRA, etc.
  • If self-employed, provide last 2 years signed and dated personal & business tax returns (if applicable) with all schedules attached.
  • Landlord’s name and address for past 2 years.