When is it right to refinance?

 It can be difficult to decide if it’s the right time to refinance, but if you’ve been making payments on your home for a while, you likely have equity built up. Our home loan officers will get to know you and your goals so they can help you make the best decision for your future.

Whether you’re looking to improve your home or your payment, we’ll guide you throughout the entire process.

Reasons to Refinance

Lower your monthly mortgage payment
with a lower interest rate

Access your home’s equity
for your next home improvement project

Get a shorter loan term
to pay less interest over time

How much can I afford? 

Use our free home loan calculator to receive an estimate.


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What documents will I need?

During the conventional home loan process, you’ll need to provide:

  • Current driver’s license or another form of photo identification
  • Purchase contract, if applicable
  • Most recent:
    • Two years of tax returns, including W-2s
    • Two months of bank statements with images of checks & deposits
    • Two months of pay stubs or payroll information with year-to-date totals
    • Retirement and/or investment statement

*Note, if you’re self-employed, more documentation may be required.

Tips when purchasing a home

  • Don’t take on more debt or loans without talking to your loan officer first because this can disqualify you from being able to close your home loan.
  • Don’t change jobs or careers while in the home loan process, unless you’re relocating to a new job with guaranteed employment.
  • Get documents to your loan officer in a timely manner because the loan process cannot move forward until we receive the required documents.
  • Don’t spend your down payment.
  • Make sure you’re able to document any large deposits to your accounts if other than payroll (gift money, tax returns, large cash deposits, etc.).
  • Ask questions, that’s what we’re here for!

For more information, check out our

Home Buyer’s Guide

Finance your home loan with us and use our moving truck for free!

Calculator Disclaimer

The information and analysis provided by calculators are for the purpose of estimating payments only, and are made available to you as a self-help tool for your independent use. Calculators are not intended to provide lending advice and do not constitute an offer or application, nor do the calculators or calculations have legal effect on any contracts entered into by you.

The figures shown are theoretical and may not be applicable in all situations. Calculations include only principal and interest in amounts required to repay the loan. Your actual payment may be higher, as taxes, insurance, and other amounts may be added to the payment amount.

Farmers State Bank cannot and does not guarantee the calculators applicability or accuracy in regards to your individual circumstances. The calculators do not assure the availability of or your eligibility for any specific product offered by Farmers State Bank, nor do the calculators predict or guarantee the actual rate or exact payment amount.

The figures and formula used within the calculators may change at any time without notice. All Interest rates are displayed as examples ONLY; repayment estimates as a result of these calculators have no legal effect.

Consult your Farmers State Bank lender to attain a quoted rate and term. Farmers State Bank accepts no responsibility for any losses arising from any use of or reliance upon any calculations or conclusions reached using the calculators. Farmers State Bank encourages you to seek personalized advice from qualified professionals regarding all personal finance issues.