Mortgage Refinancing

Quick Home Refi (QHR)

May be ideal if you:

• Want to pay off your home in a short period of time
• Have a low balance on your mortgage
• Don't plan on living in your home for a long time

Features:

• Low closing costs of just $299¹

For our Quick Home Refi, visit any banking center or request more information, and we will contact you.

Standard Mortgage Refinance

May be ideal if you:

• Want the lowest payment possible on a longer term
• Consider this your forever home

For our standard mortgage refinancing, you can Apply Online or work with an Old National Mortgage Lender.

Possible benefits of refinancing

• Lower monthly payments - You may be able to lower your existing interest rate, or extend your loan term, to reduce your monthly payment.
• Tap into your existing home’s equity - "Cash out" refinancing can enable you to use your home's equity for nearly any need. Use it to remodel your existing home, pay college tuition or treat yourself to a vacation.
• Convenience - If you already have a first and second mortgage (and possibly other loans), refinancing can be a way to combine them into one loan. One payment saves you time and effort. And in some cases, a new single home loan might reduce your overall interest rate.
• Tax advantages - Consolidating other debts into your home loan, such as auto loans and other installment debts, may be a smart move, since the interest paid may be tax-deductible. Consult your personal tax advisor.
• Lock in a fixed rate - If you currently have an Adjustable Rate Mortgage (ARM), you may consider refinancing as a way to switch to a fixed rate mortgage to protect yourself against future increase.
• Eliminate Private Mortgage Insurance (PMI) - Many homes have appreciated in value over the last couple of years, so if you now are paying monthly mortgage insurance, refinancing could eliminate this cost and reduce your monthly payments.