Mortgage Refinance

Mortgage refinance features

Lower your mortgage loan interest rate with Nationwide Bank. We refinance regular and jumbo mortgage loans.

Mortgage refinance rates

Jumbo mortgage rates are for mortgages between $417,001 and $1 million.

Looking for a specific rate?

Sign up for Rate Watch emails. You can get regular updates about our mortgage refinance rates, or we can let you know when our interest rates reach the rate you want. This service is available for regular or jumbo mortgage loans. It’s a free and easy way to keep an eye on interest rates.

*Annual Percentage Rate (APR). Interest rates and the APR are subject to change at any time and without notice due to changes in the mortgage market. These rates may also adjust according to credit and property approval based on secondary market guidelines. The rates shown are based on interest rates for customers with a good credit history. Your individual rate may vary. Our loans do not have prepayment penalties, and we normally require the escrow of taxes and insurance, which will be in addition to the principal and interest payments shown above. Be sure you understand the terms of the loan you are applying for.

Mortgage Refinance Rates with loan amounts <=$417,000
The APR calculation and the principal and interest (P&I) amounts are both based on a loan amount of $150,000 for the purchase of a primary residence, with 80% loan-to-value (LTV), approximately 15 days prepaid interest, origination charges of $795, an additional $422 in prepaid finance charges, plus discount points shown for a 60-day lock.

Jumbo Mortgage Refinance Rates with loan amounts > $417,000
The APR calculation and the principal and interest (P&I) amount are both based on a loan amount of $600,000 for the purchase of a primary residence, with 80% loan-to-value (LTV), approximately 15 days prepaid interest, origination charges of $795, an additional $422 in prepaid finance charges, plus discount points shown for a 60-day lock.

Mortgage refinance calculator

Use this calculator to find out if mortgage refinancing is a good move for your situation.

Should you refinance?

Need more help? Find more mortgage calculators in our Resource Center.

Start your mortgage refinance with Nationwide Bank today

You can apply online or over the phone. We are happy to help you with any questions you have about refinancing your loan with us.

Apply online

Apply by phone

1-877-636-0598
Weekdays
8 a.m. – 9 p.m. ET

What you need to apply for mortgage refinancing

Nationwide Bank has a secure application that makes mortgage refinance safe and simple. Before beginning your application, gather this basic information about yourself and your property.

You must be 18 years or older to apply for mortgage refinancing with Nationwide Bank.

If you are refinancing your mortgage with another person, you will need to have his or her ID, residence, job and income information, too. 

Find answers to the top mortgage refinance questions

Q. Why should I consider mortgage refinancing?
A. There are two advantages to refinancing your mortgage.

1. Lower monthly payments – Mortgage refinancing with a lower rate can help lower monthly payments.  This may mean refinancing your mortgage using the loan term currently remaining or extending your loan term.
2. Shorter term – A shorter term means you will pay off your mortgage in fewer years and pay less interest over the life of the loan.

A lower mortgage refinance rate can make your monthly mortgage payments lower; however, if you shorten the term, too, your payments may remain the same or increase. For example, if you had 20 years left to pay on your mortgage and you refinance at a lower rate with a 15-year mortgage, you may not notice a decrease in your monthly payment. Because the length of your loan is shorter, you will pay less interest over the life of your loan.

Q. Can I roll the closing costs into the refinance balance?
A. Yes, in fact, many people choose to roll the closing costs into their mortgage loan amount.

Q. What is included in closing costs?
A. Closing costs may include the following:

• Prepaid interest
• Points
• Appraisal and title services
• Private mortgage Insurance, FHA mortgage insurance premium or VA funding fee, whichever may be applicable
• Miscellaneous costs, such as an underwriting fee or tax service fee

Most of the fees described above are finance charges that affect your APR which, in addition to interest, represents the cost of credit to you. 

Q. What are points?
A. Points are prepaid fees, often, but not always, used to gain a lower interest rate on your mortgage. One point is 1% of your mortgage loan amount. For a $200,000 home, one point would be $2,000. Some points may be tax deductible; consult your tax advisor.

Q. How much does it cost to lock in my refinance rate?
A. Nationwide Bank charges a $450 commitment fee for you to lock in your mortgage rate.

Q. How do I apply for mortgage refinancing online?
A. Fill out our online application. Then once your application is submitted, a Nationwide Bank Mortgage Specialist will call you to discuss the rest of the refinance process.  You can also apply by phone by calling 1-877-636-0598, 8 a.m. to 9 p.m. ET, weekdays.

Q. Do I have to pay for an appraisal?
A. Yes. It is included in your closing costs.

Don’t forget that Nationwide can provide you with the insurance you need to protect your property. Request a homeowners insurance quote from Nationwide Insurance today!