Prepaid Cards

If I have already refinanced my home or vehicle once, can I do it again?

Yes, you can refinance your home or vehicle more than once and it may be very wise to do so if interest rates are steadily falling.

Do I have to wait a certain period of time before I can refinance?

No, there is no certain required waiting period when it comes to refinancing. You may even refinance more than once in a matter of months.

What is a rescission period?

The rescission period is a waiting period of three days (excluding Sundays and legal holidays), between signing your loan papers and closing your loan. This period gives you time to make sure that you really want to go ahead with the transaction, and is required by federal law for all owner-occupied refinances.

What is home equity?

Home equity is the difference between the market value of your home and the amount you have paid towards that value.

What does ARM stand for and what does it mean?

ARM stands for Adjustable Rate Mortgage. An ARM is a mortgage in which the interest rate is adjusted at regular intervals based on a pre-determined index.