Closing costs for a refinance typically include title policy, credit report, origination fees and document recording fees. Cost of an appraisal may also be included if one is needed.

The refinance process at Wolf River Community Bank typically takes 30-45 days, but can vary depending on the timing of the home appraisal.

A cash out refinance allows you to take available equity from your home to pay off other debt or use it for home improvements. You may finance up to 80% of your home’s value.

Yes, interest rates can vary depending on the applicant’s credit score. A credit score of 740 or above puts you in the best rate position.

An appraisal may be required depending on the loan program you choose and if you are planning to take cash out using the equity in your home.

A home equity loan gives you a set loan amount based on your home’s available equity. The loan has a locked-in rate and a set payment term and amount.  Once the loan is paid in full, the mortgage is released.

A home equity line of credit gives you a revolving credit line using your home’s equity. A HELOC has a variable rate and monthly payments are based on the balance of the line of credit.  You are able to re-borrow funds as you pay the principal balance down.  The line of credit can remain open even after you have paid your balance in full.