Residential Refinance

It may have been 10+ years since you originally purchased your home, and you may not have known that you also purchased title insurance. When refinancing your home, a new policy is required. St. Johns Title can help with your refinancing title insurance needs. You don’t want to slow down your refinance and miss out on lower rates while you can get them. We ensure the process is smooth, so you can enjoy all the benefits that refinancing brings.

A happy family sitting on a couch with moving boxes surrounding them

Why Should A Homeowner Refinance?

If you are not familiar, a mortgage refinance is the process of getting a new home loan to replace an existing one. You typically follow the same steps you did for your purchase mortgage, except your new loan pays off your old one.

A mortgage refinance typically leads to a lower rate, a shorter term, or some extra cash in your pocket.

This is not something you want to jump in head first. It is important to understand why you would want to take out a new home loan in the first place—and then figure out whether it makes sense depending on your particular situation.

  • When shopping around for a new mortgage, remember to look not just at interest rates but also at closing costs, good faith estimates, and the breakeven point.
  • Consider using the services of a mortgage broker but do your own legwork to make sure you get the best deal.
  • Decide whether you want to use points to lower the interest rate and remember to lock in the rate once you have a good offer.
  • Get your credit reports to see what your credit score is and check for errors because great credit can help secure a better refinance package.
Man writing on a contract with people sat around him at a table

Do I Need a New Title Insurance Policy?

Title insurance mitigates risks and verifies the financing, which protects both the homeowner and lender against title issues and future title claims. Essentially, you are getting a brand new mortgage when you refinance your home. This means you will also need a new title insurance policy.

This new policy also protects against any events that may have occurred from when you first purchased the home to the time you decide to refinance. A lot can change quickly as we’ve learned recently, making this protection particularly important. This also protects any second mortgages or HELOCs.

Contact us to get the professional assistance you need for your refinance transaction. We proudly provide real estate title and closing services including powers of attorney, municipal and UCC lien searches, escrow services and other legal solutions throughout Jacksonville, Ponte Vedra, Saint Johns, St. Augustine and beyond.

Our Services

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interest rate decrease recommended for refinancing

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average increase in equity