Refinancing Your Loan

Lots of things can change in the years after you obtain a loan: interest rates can drop, your financial situation can shift, and the loan terms you originally signed up for may not be ideal for you anymore. Luckily, refinancing your loan may help put you in a better financial position to pay off your debt.

What Is Refinancing?

Refinancing is the process of replacing an existing loan (like a mortgage or auto loan) with a new one. While refinancing doesn’t erase your debt, it could help you get:

A lower interest rate
Better terms
A lower monthly payment
A shorter loan term

Improving on your current loan could help you save money, and you could even use your equity to consolidate other higher-interest debt, such as credit cards and unsecured loans.

What Information is Needed for Refinancing?

You will need to have the following information available:

For auto loans:	For home loans:
Vehicle year, make, model and mileage Copy of registration 17-character Vehicle Identification Number (VIN) Information about your current lender, including: Lender name and phone number Loan number 10-day payoff amount with Per Diem Payoff address	Previous year’s W-2 Hourly or salaried employees: One full month of recent paystubs Self-employed: Two years of W-2s and all schedules of business and personal tax returns and a current YTD Profit and Loss Statement Retired: Current year’s benefit award letter or bank statements reflecting the direct deposit for two months Asset statements, including retirement asset statements (two recent months and all pages; screen printouts are not acceptable) Copy of the current survey (if less than 15 years old with no changes to the property) Copy of the declarations page from the current homeowner’s insurance policy Evidence of an Owner’s Title Insurance Policy

For auto loans:

For home loans:

Vehicle year, make, model and mileage
Copy of registration
17-character Vehicle Identification Number (VIN)
Information about your current lender, including:
- Lender name and phone number
- Loan number
- 10-day payoff amount with Per Diem
- Payoff address

Previous year’s W-2
- Hourly or salaried employees: One full month of recent paystubs
- Self-employed: Two years of W-2s and all schedules of business and personal tax returns and a current YTD Profit and Loss Statement
- Retired: Current year’s benefit award letter or bank statements reflecting the direct deposit for two months
Asset statements, including retirement asset statements (two recent months and all pages; screen printouts are not acceptable)
Copy of the current survey (if less than 15 years old with no changes to the property)
Copy of the declarations page from the current homeowner’s insurance policy
Evidence of an Owner’s Title Insurance Policy

Ready to apply?

Apply via Internet Banking

Click the “Apply Now” button below.
Enter your lnternet Banking log in information.
Click "Apply for a Loan" from the menu.
Follow the step-by-step instructions to fill out and submit your application.

Apply Now

Apply via VyStar Mobile Banking App

Log in to the VyStar Mobile Banking App.
Tap “More” at the top of the screen.
Tap “Apply for a Loan.”
Follow the on-screen instructions to fill out and submit your loan application.

To speak with a VyStar representative and find out if refinancing is right for you, please call us at 904-777-6000 or 800-445-6289. Our Contact Center’s normal business hours are 7 days a week, 7:00 a.m. to 7:00 p.m., excluding holidays. You can also visit us at any branch location near you.

All loans are subject to credit approval.