Get Home Refinancing Information from Citizens Bank.

Home Refinancing

When to refinance depends on your goals. We'll help you determine if the time is right.

Home Refinancing Facts & Help

Browse the sections below to learn when to refinance your mortgage. We’ll help you examine mortgage refinance rates and terms and walk you through an overview of the home refinancing process.

And be sure to contact a Citizens Bank Home Loan Advisor with your questions.

Is it the right time?

When to refinance a mortgage depends on your personal circumstances and, possibly, factors like interest rates.

The most common reasons to refinance a home loan are

  • Lowering the interest rate, which may result in lower monthly payments or a shorter mortgage term
  • Switching from an adjustable-to a fixed-rate mortgage, or vice versa
  • Paying off other debts or getting cash for other goals by refinancing for an amount higher than your current mortgage

To see if mortgage refinancing makes sense for you, these tools can help.

Should I Refinance?

Refinance Break Even Calculator

Refinance Interest Savings Calculator

Home Refinancing Products and Rates

Consider refinancing to a fixed-rate home loan which means the interest rate stays the same for the entire life of the loan. Your monthly principal and interest payment amount also stays the same. Learn more about fixed mortgage rates.

Product Rate APR* Points Repayment


  • Monthly principal and interest payments are predictable regardless of whether interest rates rise
  • You can choose the right repayment term for you, from 10 to 30 years
  • You can save 0.125 percentage points off your interest rate with Circle Gold Mortgage Advantage
Get Started

Call a Home Loan Advisor:

Apply in person:
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When you refinance to an adjustable rate mortgage, the interest rate starts out fixed for a set number of years, then becomes variable. After that the rate will go up or down each year as the LIBOR index Stands for the London Inter-bank Offered Rate. The British Bankers Association uses information gathered from a survey of multiple lending institutions to determine LIBOR rates. On home equity loans and home equity lines of credit, a margin is added to or subtracted to LIBOR by your financial institution to determine your final rate. changes.

Learn more about ARMs

Product Rate APR* Points Repayment


  • The initial interest rate on an ARM is usually lower than a fixed-rate mortgage
  • Often considered by borrowers who plan to sell or refinance before their rate becomes variable
  • Save 0.125 percentage points off your interest rate with Circle Gold Mortgage Advantage
Get Started

Call a Home Loan Advisor:

Apply in person:
Find a branch

A jumbo mortgage is for loans over $417,000. View fixed and adjustable rates below if your refinance will require a home loan for this amount or more.

Fixed Rate

Product Rate APR* Points Repayment

Adjustable Rate

Product Rate APR* Points Repayment


  • Interest only option available on select ARMs for well-qualified borrowers
  • You can save 0.125 percentage points off your interest rate with Circle Gold Mortgage Advantage

Learn more about fixed vs. adjustable mortgage rates

Get Started

Call a Home Loan Advisor:

Apply in person:
Find a branch

If your mortgage refinance will pay off all mortgages or liens on your property, our 10 year
first lien position In this instance, a lien is a binding agreement between a lender and a borrower that gives the lender a right to the property, which is being used to secure the loan. If a loan is in first lien or first position that means there are no other mortgages, loans or liens on the property or that the borrower will be paying off all existing mortgages or loans with this new loan that would move into the first position. home equity loan may be for you.

APR* Details
  • No points
  • Typically no closing costs
  • Close in about 30 - 35 days
  • Interest may be tax deductible, consult your tax advisor
  • Minimum loan amount of $50,000
  • Maximum loan-to-value (LTV) of 80%.

*Rates listed above include all discounts and are effective as of #MORTGAGE_APR_DATE# and are subject to change at any time. #REGION_NAME#. For important additional information including how to obtain these rates, see full disclosures.

Have these items ready to apply:

  • Date of birth
  • Social security number of all applicants
  • Property taxes
  • Home insurance carrier and premium
  • Any W-2 and paystub/tax returns/proof of income

Call us at 1-888-514-2300 to apply or talk to a Home Loan Advisor.

Trust review fees ranging from $85 to $350 apply for properties held in trust.

Explore the other types of refinancing loans we offer by selecting one of the buttons below.

Federal Housing Administration (FHA) Home Loans and Veterans Administration (VA) Home Loans

We offer various refinancing options for both FHA and VA loans.

Want to discuss an FHA or VA loan refinance? Speak to a Home Loan Advisor at 1-888-514-2300.

Construction-to-Permanent (C/P)

Refinancing a mortgage for a home that needs renovating? We've got a mortgage program that covers the financing of renovation construction and the permanent loan after you're done. Complete tear-downs are also eligible.

To talk about our home construction/renovation loan options, call a Home Loan Advisor at 1-888-514-2300

Read more about home construction loans

Tandem Home Equity Program

Our Tandem Home Equity Loan or Line of Credit is closed simultaneously with the first mortgage and enables borrowers who need jumbo financing to save money and avoid mortgage insurance.


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Circle Gold Mortgage Advantage

Save 0.125 percentage points off your mortgage interest rate with automatic monthly payments from a Circle Gold Checking Account.

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