Refinancing

Take a Path to Save Cash

Refinancing your home loan can save a lot of money in the long run. At Tri City National Bank, we offer two no-fee options for mortgage refinancing.

Just Right Refinance

With Just Right Refinance, it’s just the right time to refinance your home!

Enjoy a low monthly payment. Pay off your loan sooner. You can even use your home’s equity for a renovation project.

Details

4.25% fixed rate APR for a 10-year term¹
No closing costs for loans $100,000 or less²

Rapid Refinance

Enjoy the competitive interest rates, with cash-out possible, with the Rapid Refinance option. Education expenses, major life events, major home improvements, debt consolidation — whatever your need, Rapid Refinance can help!

Details

No closing costs for loans $100,000 or less²
Interest paid might be tax deductible³

Traditional Refinance Options

Adjustable Rate Mortgage (ARM)

With this loan option, the initial interest rate is locked for up to 7 years, then changes annually.

Details

Interest rate is adjusted periodically according to a preselected index
Caps limit how much the rate may change over the life of the loan

Fixed-rate mortgage

With a fixed-rate loan, you make level payments of principal and interest for the life of the loan. Interest-only payments may be available in some situations

Details

Interest rate does not change during life of loan
Flexible term loans

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¹Advertised APRs are subject to change at any time and are effective 05.12.2022. Loans are available on a 10-year term for amounts between $25,000 and $200,000 with $0 in borrower-paid finance charges. Product requires loan to be a first lien with owner-occupancy, maximum 70% loan-to-value, maximum 43% debt-to-income ratio, minimum 700 credit score, and automatic payments directly from a Tri City National Bank Checking Account. Your interest rate and APR will increase if you terminate automatic payments from a Tri City Checking Account. Refinances of existing Tri City portfolio loans may be eligible with an increase of 50% of the current loan balance or $25,000, whichever is less. Loans serviced by Tri City, such as loans owned by Freddie Mac or Fannie Mae, are also eligible to refinance without increasing the existing loan balance. Loan amounts up to $100,000 will have no closing costs, and loan amounts between $100,000.01 - $200,000 may be subject to appraisal fees. Repayment will be made over 120 months at $10.24 per $1,000 borrowed. For example, a $25,000 loan divided by $1,000 equals 25, 25 multiplied by $10.24 results in a monthly payment of $256.00 over 120 months. This does not include taxes and insurance, meaning your actual payment will be greater. Your rate, APR, and payment may be different based on the actual terms requested. Other restrictions may apply.

²Tri City offers no closing costs on certain mortgage and home equity loans. The no closing cost offers are not available for all loan amounts and purposes, and property and occupancy restrictions may apply. If applicable, costs not paid by Tri City include, but are not limited to: prepaid interest, escrow amounts, property and transfer taxes, seller adjustments, and homeowners, flood, owner’s title and mortgage insurance. Your APR may be higher when electing the no closing cost offer. Ask us for additional information on our no closing cost loans.

³Consult a tax adviser.

Take a Path to Save Cash

Just Right Refinance

Details

Rapid Refinance

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Traditional Refinance Options

Adjustable Rate Mortgage (ARM)

Details

Fixed-rate mortgage

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