Buy with Confidence. Refinance with Ease.

GRB’s RateRelief program helps homebuyers make their purchase with confidence in a dynamic rate environment.

RateRelief and RateRelief+

We know many buyers are wondering how to finance a home in a higher rate environment.

At GRB, we work hard to make the goal of homeownership attainable. But in a dynamic rate environment, it can be difficult for buyers to feel confident about when it’s the right time to enter the housing market. The real answer is there’s never a “right time.” Rates have and will always vary throughout the years – but a home is an investment that endures.

With GRB’s RateRelief Programs, buyers can rest assured that their decision to purchase a home is well supported, and backed with confidence by a local community bank. Eligible applicants that purchase a home at the current rates will have the opportunity to refinance their mortgage through GRB at no additional cost, should rates drop between the time of closing to December 31, 2025.1

A Lower-cost Path to Refinance

The purpose of the RateRelief Program from GRB is to ease interest rate concerns for current buyers and provide a clear path to refinance should mortgage rates fall between the time of closing to December 31, 2025. With RateRelief, approved applicants will have the following fees waived when applying for their refinance with GRB:

  • Processing Fee
  • Underwriting Fee
  • Appraisal Fee

Add Benefits with a RateRelief+ Lender-Funded Buydown

RateRelief+ includes the benefits of a RateRelief refinance and adds a 1-0 lender-funded temporary buydown for qualified buyers. The cost of the buydown is built into the pricing, so no buydown funds are required at closing. In year one, the interest portion of the monthly payment is reduced 1% from the note rate.2 This provides buyers with a lower initial monthly payment for the first 12 months of the mortgage.

Program Details

To be eligible for GRB’s RateRelief Programs, borrowers must adhere to the following:

  • Close a government-backed (FHA or VA) or conventional mortgage loan (portfolio loans are not eligible)
  • Initial program application submitted and approved within the active program window3
  • Apply and qualify for a refinance with GRB
  • Successfully complete seven (7) on-time mortgage payments prior to closing on refinance
  • Can be combined with select grants, discounts, and down payment assistance programs4

1 Borrowers must meet credit and income requirements at the time of refinance.

2 Qualifying ratios will be based on the higher, year two rate.

3 GRB reserves the right to suspend offering this mortgage program to new borrowers at any time and without prior notice. Borrowers with a mortgage application in process prior to program cancellation will still be considered eligible.

4 Borrowers must meet the requirements for individual grants, discounts, and down payment assistance programs and work with a GRB Loan Originator to verify eligibility if combined with ReateRelief and RateRelief+.

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