If you currently owe less than $150,000 on your current home, our Smart Home Refi may be the affordable and sensible alternative to refinance your home to a new, lower interest rate while providing access to your home’s valuable equity
to put cash directly in your pocket. ATTENTION: While the Smart Home Refi offers a much lower closing cost than a conventional mortgage, the rate is higher and could therefore affect your savings. If you are interested in applying for a conventional mortgage please see the Mortgage Refinancing tab above and complete your online application there.
Smart Home Refi Is the Affordable Alternative
For a limited time, our Smart Home Refi is being offered with a flat, one-time $199* closing fee, making it the affordable alternative to traditional home mortgage refinancing. You could potentially save hundreds, even thousands, of dollars
in loan closing fees alone.
Get started with your application online or call 1.800.205.3464.
APPLY FOR A SMART HOME REFI
Smart Home Refi Is the Sensible Alternative
Our Smart Home Refi is also the sensible alternative by providing qualified homeowners unparalleled affordability, flexibility, and cash access to their home’s equity — all from a single, convenient borrowing solution. Just see for
yourself.
- Flat $199* Closing Costs – No smoke and mirrors and no hidden costs. Just $199*. That’s it! Potentially saving you a bundle in closing costs over a traditional home mortgage refinance.
- Cash-out Option – Convert your home’s equity directly into cash at the same low annual percentage rate. Use it toward home improvements, debt consolidation, unexpected expenses, getaway vacation,
new boat/RV, college tuition, or anything else.
- Lower Interest Payments – Potentially save hundreds or even thousands of dollars in interest payments over the life your loan depending on your home’s current annual percentage rate and term.
- Fixed Rate/Flexible Terms – Lock into a low, fixed annual percentage rate. We offer a variety of terms to fit your financial needs. Reach out to your local banker to determine what works best for you.
- Save Money/Pay Off Faster – Refinancing an existing higher rate home mortgage is a smart way to potentially pay off your mortgage even faster -OR- possibly lower your monthly payments.
- No PMI – No Private Mortgage Insurance is required for this loan to keep monthly payments even lower.
- Auto pay discount – Save an additional .25% off your annual percentage rate with auto pay from your First Merchants Bank checking account.
Get started with your application online or call 1.800.205.3464.
Is This the Right Alternative for You?
Get started with your application online or consult one of our trusted lending experts today to discuss our Smart Home Refi or other smart borrowing solutions. Call 1.800.205.3464,
visit one of our banking centers, or email us for
a free loan evaluation and consultation.
*Rates, term and conditions effective as of May 1, 2020 are for sample purposes only and subject to change. A sample APR of 4.65%, based on a $50,000 loan with a term of 15 years and not including taxes and insurance, would result in 180 monthly payments
of $7.73 per $1,000 borrowed. Your payment and rate may vary based on term selected and credit qualifications. APR also reflects .25% discount for automatic payments from a First Merchants Bank checking account. Proof of homeowners insurance required.
Maximum LTV is 80%. First lien position loans only. Other restrictions may apply, see bank for details.