FAQs: Refinancing During a Rate Drop

1. Why should I refinance when rates drop?

Lower interest rates can mean:

• Reduced monthly payments
• Less interest paid over the life of your loan
• The ability to shorten your loan term without a big payment increase
• Extra cash flow for savings, home improvements, or other goals

2. How much can I save by refinancing?

Savings vary based on your current rate, loan balance, and term. 

3. Is refinancing complicated?

Not at all! Today, digital mortgage platforms make the process quick, secure, and simple - often completed online.

4. How long does the process take?

With an online mortgage refinance, you can apply in minutes and track your progress from any device. Many borrowers lock in rates and close faster than with traditional methods.

5. Will refinancing affect my credit score?

Refinancing typically involves a credit check. However, the long-term savings often outweigh any impact to credit score.

6. Do I need to pay closing costs?

Yes, most refinances include closing costs, but these can often be rolled into your new loan or offset by your monthly savings. Always review the details before committing.

7. Do I need Perfect Credit?

No, options exist for various credit profiles.

8. How long Does it take?

Often 30 days or less through our digital mortgage team.

9. What documents are needed?

Typically, income proof, tax returns, and current mortgage details.

10. Can I refinance online?

Absolutely. Refinancing through our digital mortgage team, you can expect:

• Quick Online Application
• Transparent Rates & Fees
• Secure Digital Document Upload
• Expert Support When You Need It

The Bottom Line

Don’t wait for rates to rise again, lock in your savings today!
Apply online in minutes with our digital mortgage team.

Get started today at www.hancockwhitney.com/mortgage-online. 

   Hancock Whitney Bank, Member FDIC and Equal Housing Lender. Bank NMLS# 454781. All loans and accounts subject to credit approval. Terms and conditions apply.