Make Your Final Move
Into A Better Mortgage
At last you’ve turned your new house into a cozy home. Now, the only move left to make is into a new mortgage that best benefits you at this stage in your life’s journey.
Life Can Be Stressful, Changing Your Mortgage Shouldn’t Be.
Your forever home may be the key to securing your financial future. Refinancing might be right for both you and your neighbor, but for different reasons. That’s why we offer refinancing options based on what makes sense for you.
Why are you looking to refinance?
Lower Your Monthly Payment
Gain Access To Extra Cash
Eliminate PMI
Simply Refi
Even a small rate change can make a big difference and help you overcome budget pressure. If interest rates have dropped since you bought your home it’s time to move into a better rate with Simply Refi. Refinance to a lower rate to reduce your monthly mortgage payment or shorten your term.
Why choose Simply Refi?
- Flexible Terms: 120, 180, 240, and 360 months available
- Borrow up to 90% of appraised value*
- Flat closing costs of $999.00
- No attorney fees
- Competitive interest rates
- Program available for qualified owners of 1 or 2 family homes or condos; primary or second home use located in Connecticut
Re-Define Refinance
Reinvent your home’s equity into cash to put towards home improvements, college tuition, or consolidate debt.
Your home has so much more to offer you. Make your goals a reality, by redefining the terms of you mortgage to access the funds you need to put towards renovations, debt consolidation, or fund a large project.
Why choose Re-Define Refinance?
- Flexible Terms: 180, 240, and 360 months available
- Your loan-to-value ratio (LTV) is 80% or lower
- Option to cash out your home equity
- Low closing costs
- Program available for qualified owners of 1 or 4 family homes or condos; primary or second home use located in Connecticut
- Limited options available for investment properties
ReFi Boost Mortgage
Our ReFi Boost mortgage helps you eliminate extra costs like PMI and empowers you to access your home’s equity to improve your loan terms.
Why choose Refi Boost?
- No PMI Required**
- Requires minimum credit score of 720
- Loan amounts up to $1,209,750.00
- Credit report and appraisal fees collected prior to closing
- Your loan-to-value ratio (LTV) is 90% or lower
- Refinance is limited to payoff mortgage, second mortgages (Home Equity Loans and HELOC) and closing costs
- Program available for qualified owners of 1 or 2 family homes or condos; primary or second home use located in Connecticut
- No cash out allowed
We’re Here To Support Your Dreams and Goals
Expert Local Guidance
Our experienced Loan Officers are here to answer your questions and make refinancing your home easy.
Convenient
Enjoy an easy and streamlined online application process from the comfort of your couch.
Secure
Borrowers can securely upload their documents with sensitive information directly into our secure portal.
Explore Our Other Options
Home Equity Loan
A Home Equity Loan is a great borrowing option when you need a large fixed amount because it costs you less than most other methods to borrow.
Jumbo Mortgage
Jumbo mortgage is the industry term for home loan amounts ranging from $806,501 to $1,209,750.
Buyer’s Boost
TSB Buyer’s Boost Mortgage Program allows well-qualified borrowers to get competitive rates with PMI waived even while putting as little as 10% down.
Conventional Mortgages
Torrington Savings Bank conventional mortgages offer great rates with flexible term options, and low fees & closing costs.
Refinancing Made Easy Details:
Simply Refi
Refinance Only. Single Family / Condo; Primary or Second Home only; no multi family or investment properties. Maximum loan limit is $500,000. Payment example: $100,000.00 loan at 4.75% for 360 months (30 years) is a monthly payment of $521.65. This does not include taxes or insurance escrow. APR’s based on $100,000.00 mortgage, 20% equity in property being refinanced. Any change of loan after commitment issued – $400.00 fee. Property insurance is required. Flood insurance may be required. Properties with underground fuel storage tanks are not eligible. Processing fee of $999.00 up to $250,000. Loan amounts exceeding $250,001 require a full appraisal to be paid by the borrower at an additional cost of $570.72. The processing fee includes all refinancing expenses, except for full appraisal, as deemed necessary by the bank, and prepaids (funds to establish escrow account and partial month of interest due at closing). *The borrower may obtain a separate full appraisal at their own expense if desired. Minimum FICO of 680. No Prepayment Penalty. Interest rates are subject to change at any time, without notice and may vary according to the property and loan characteristics. Rates are not subject to pricing adjustments based upon typical various factors including credit profile, property value, occupancy, and other factors. Rate / APR displayed assumes 20% equity in property. NO additional cash out to borrower except for funds to establish escrow account with Torrington Savings Bank and to pay Prepaid interest, as applicable. No existing second liens allowed, i.e. equity loans and home equity lines of credit. Consult a loan representative for more details and additional options to refinance your mortgage.
Re-Define Refinance
Maximum loan limit is $806,500.00. Conventional LTV (loan to value) 80.01% to 95% may require PMI. Payment example: $100,000.00 loan at 4.75% for 360 months (30 years) is a monthly payment of $521.65. This does not include taxes and/or insurance. Property insurance is required. Flood insurance may be required. 60 day commitment. Any change of loan after commitment issued – $400.00 fee. Properties with underground fuel storage tanks are not eligible. Application fee ranges from $657.92 to $745.13 on single family homes or $807.92 to $895.13 on multiple family homes. Application fee includes cost of appraisal and credit reports. Consult a loan representative for more details. Interest rates are subject to change at any time, without notice and may vary according to the property and loan characteristics. Your rate will depend on various factors including loan product, loan amount, loan purpose, credit profile, property value, occupancy, and other factors. Rate / APR displayed assumes 20% down payment, purchase transaction, owner occupied, single family detached home. FICO score of 700 minimum.
Refi Boost – Refinance – No PMI – Fixed Rate
Maximum loan limit is $806,500.00 Payment example: $100,000.00 loan at 4.75% for 360 months (30 years) is a monthly payment of $521.65. This does not include taxes or insurance escrow. APR’s based on $100,000.00 mortgage, 20% down payment. 60 day commitment. Any change of loan after commitment issued – $400.00 fee. Property insurance is required. Flood insurance may be required. Properties with underground fuel storage tanks are not eligible. Application fee ranges from $657.92 to $745.13 on single family homes or $807.92 to $895.13 on multiple family homes. Application fee includes cost of appraisal and credit reports. Available to qualified borrower(s) at a maximum loan to value of 90% without the need for Private Mortgage Insurance. 1-2 Family, owner occupied or second home: no Investment. Refinance only. Minimum FICO of 720. *Loans not fitting the requirements above will be required to qualify for and obtain borrower paid Private Mortgage Insurance. Conventional LTV (loan to value) 80.01% to 90% may require PMI. No Prepayment Penalty. Consult a loan representative for more details. Interest rates are subject to change at any time, without notice and may vary according to the property and loan characteristics. Your rate will depend on various factors including loan product, loan amount, loan purpose, credit profile, property value, occupancy, and other factors. Rate / APR displayed assumes 20% down payment, purchase transaction, owner occupied, single family detached home.
Refi Boost – Refinance – No PMI – Jumbo
Minimum loan limit is $806,501.00. Maximum loan limit $1,209,750.00. Payment example: $100,000.00 loan at 4.75% for 360 months (30 years) is a monthly payment of $521.65. This does not include taxes or insurance escrow. APR’s based on $100,000.00 mortgage, 20% down payment. 60-day commitment. Any change of loan after commitment issued – $400.00 fee. Property insurance is required. Flood insurance may be required. Properties with underground fuel storage tanks are not eligible. Application fee ranges from $807.92 to $895.13 on single family homes. Application fee includes cost of appraisal and credit reports. Available to qualified borrower(s) at a maximum loan to value of 90% without the need for Private Mortgage Insurance. 1-2 Family, Owner Occupied or Second Home: no Investment. Refinance only. Minimum FICO of 720. **Loans not fitting the requirements above will be required to qualify for and obtain borrower paid Private Mortgage Insurance. Conventional LTV (loan to value) 80.01% to 90% may require PMI. No Prepayment Penalty. Consult a loan representative for more details. Interest rates are subject to change at any time, without notice and may vary according to the property and loan characteristics. Your rate will depend on various factors including loan product, loan amount, loan purpose, credit profile, property value, occupancy, and other factors. Rate / APR displayed assumes 20% down payment, purchase transaction, owner occupied, single family detached home.
