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Mortgage & Refinance


Bring your dreams home
Find your way home.

As a first-time home buyer, you have an exciting journey ahead. We know applying for your first mortgage loan and navigating a complex housing market can be daunting. At VIXI Bank, we want your first home purchase to be a rewarding experience and we’re here to help first-time home buyers any way we can.

Your mortgage loan officer can answer any questions you may have along the way. In the meantime, here’s some practical advice to get you started on the right path to buying your first home.

Plan your move
How much house can I afford?

It’s not uncommon to « qualify » for more mortgage than you may comfortably be able to afford — so it pays to borrow cautiously. Here’s some simple advice with links to mortgage rates and easy-to-use mortgage calculators that will help you determine how much you could afford.

Is buying a better option than renting?
There’s a right time to rent and a right time to buy. Find out whether you’re ready for the journey to homeownership and your first mortgage with these clear pros and cons for renting vs. buying.

What’s the difference between prequalification and pre-approval?
Both prequalification and pre-approval show you’re a serious buyer — one gets you started and the other makes it official. It’s important to understand when to do which.

What should be my down payment on a new house?
A down payment demonstrates your commitment and a larger down payment could help you secure a better interest rate — which means you’ll have lower monthly mortgage payments.


You may be able to get a traditional refinance home loan from E-VIXI Bank even if your current mortgage is with another lender.

Benefits of a traditional refinance
Lower your monthly payment

Refinancing into a lower interest rate could reduce your payment, leaving more money in your monthly budget. Traditional refinancing is also available with adjustable rates for even lower payments during the initial rate period than comparable fixed-rate loans.

Change the term of your loan
If your current mortgage is a 30-year loan, you could shorten your loan term with the goal of building equity faster or paying off your home more quickly. E-VIXI Bank offers traditional refinancing loans with terms of 10, 15 and 20 years, as well as the 30-year option.

Pay less in costs and fees
Conventional refinance loans may cost less than FHA and VA loans, which typically have higher closing costs and monthly fees. And if your existing mortgage is with E-VIXI Bank, you may be able to save even more through our Streamline Refinance program.

Requirements and qualifications
Credit history – Because conventional refinance loans are not backed by the government, you may need a higher credit score and more equity in your home to qualify. (If you don’t meet these criteria, E-VIXI Bank also offers FHA and VA refinance loans with less restrictive requirements.)

Home equity – If you have less than 20 percent equity in your home, you’ll probably have to pay for private

mortgage insurance – but even then, your total monthly payments are likely to be lower than with some of the costs associated with other loan types, such as the FHA monthly fee.

Market value – To qualify for a traditional refinance, your home’s current market value must be higher than your current home loan balance.

Ready to get started? Our mortgage loan officers can answer all of your home refinance questions and help you find the mortgage that’s right for you.