Refinance to a lower rate with no lender fees*
Don't put your homeownership plans on hold waiting for lower interest rates. With Rate Rebound, you can buy now and refinance within five years with no lender fees if rates fall.*
What is Rate Rebound?
Rate Rebound is an exclusive benefit for home buyers and homeowners who buy or refinance their home with Bank CMG. Oftentimes, people get stuck on the sidelines trying to predict where the market rates are headed, trying to time their purchase or refinance perfectly. But this can delay the benefits of homeownership, like building equity, for years. So, we came up with a solution: buy or refinance now, and if rates fall within the next five years, we'll let you refinance to a lower rate with NO LENDER FEES, saving you THOUSANDS of dollars. Instead of trying to predict where mortgage rates are headed, you can make the decision that's right for you today, knowing you'll have another opportunity if rates fall in the future.
Highlights
Rate Rebound features
Rate Rebound could benefit you if you...
-
Found the right home but are concerned about today's interest rates.
-
Need to complete a cash-out refinance now but hope to refinance again if rates decline.
-
Don't want to delay your financial goals while waiting for the market to change.
-
Want the flexibility to refinance later if rates improve.
-
Prefer peace of mind knowing you have another opportunity if interest rates fall.
-
Plan to keep your home for several years.
Wait for rates to fall or Rate Rebound?
Wait for rates to fall
- Risk losing the home you love
- Delay renovations, debt consolidation or other financial goals
- No guarantee rates will fall
- Put important plans on hold
Rate Rebound
- Buy the home you want now
- Access your home equity when you need it
- Eligible to refinance later if rates decline*
- Start building home equity or utilizing cash today
Frequently Asked Questions
We’re here to help! Find answers to your everyday banking questions.
Rate Rebound is a refinance benefit available with eligible Bank CMG purchase and refinance loans. If interest rates decline after you close, you may have the opportunity to refinance within five years without paying lender fees on your eligible refinance. Borrowers must qualify for the new loan, and program guidelines apply.
After closing on an eligible purchase or refinance loan, you'll have up to five years to take advantage of the Rate Rebound benefit. If refinancing makes financial sense during that time, your loan officer can help you evaluate your options and determine whether you qualify for an eligible refinance with no lender fees.
Rate Rebound is available on eligible Bank CMG purchase and refinance transactions.
Yes! You don't have to have anything on your initial loan abut Rate Rebound. If you've already purchased or refinanced with us, you might be eligible.
Eligible borrowers have up to five years from their original closing date to take advantage of the Rate Rebound benefit, subject to current program guidelines.
No. Rate Rebound may be available to both first-time and repeat home buyers, as well as eligible homeowners completing a cash-out refinance. Eligibility depends on the loan program and current guidelines.
No. Rate Rebound is available on Conventional Loans, FHA Loans, VA Loans, USDA Loans, and Jumbo Loans. Ineligble loans include: Construction Loans, HELOCs, All In One Loan, HFA, and Bond
No. Rate Rebound may not be used with any other discounts, promotions or interest-only/buy-down and second lien products.
*Bank CMG will cover all customary lender fees which are lender administrative fees, tax service fees, appraisal fee and credit report fee. This offer does not cover discount points. Credit cannot exceed total fees. Rate Rebound is only valid on future conventional conforming, government, and jumbo loans in our retail channel (future Construction Loans, All in One, HELOCs, Bond or HFA loans are excluded). Rate Rebound is only available on loans originated by Bank CMG. There may be additional restrictions based on investor. Offer may not be redeemed for cash or credit and is nontransferable. Offer cannot be retroactively applied to any loans. Offer may not be used with any other discounts, promotions or interest-only/buy-down and second lien products. This offer is subject to changes or cancellation at any time at the sole discretion of Bank CMG. Additional restrictions/conditions may apply. This is not a commitment to lend and is contingent on qualification per full underwriting guidelines. Program will be available on loans disclosed on or after 11/1/22. Program is applicable for refinances 6 months after closing up to 5 years from original note date and with a net tangible benefit which includes a rate reduction of 0.5%, going from an ARM to fixed rate, reducing loan term, movement to a more stable product, or a lower principal and interest payment. By refinancing the existing loan, the total finance charges may be higher over the life of the loan.