Refinancing Your Mortgage
Make Your Home Work For You
Want to lower your monthly mortgage payment or secure a lower interest rate? Would you like to take advantage of the equity in your home or move your adjustable rate loan to a fixed rate? If so, consider refinancing your mortgage.
While the process of refinancing is similar to applying for your first mortgage, we’re here to help you understand the pros and cons, options and costs, so the experience is as smooth as possible, and you can get back to focusing on memories, and not interest rates.
Possible Benefits of Refinancing Your Mortgage
LOWER YOUR MONTHLY PAYMENT
Put extra money back into your budget. Rate-and-term finance replaces your current mortgage with a new, lower rates, meaning less to pay back each month.
MANAGE DEBT BETTER
A Cash out refinance may be the option for you. Tap into your equity to pay off any high-interest debt like credit cards, car payments, or student loan debt.
PAY OFF YOUR LOAN FASTER
Refinance from a 30-year loan to a shorter term and pay off your loan in as little as half the time! Pay less interest over the life of your loan as well.
LOCK IN A LOW RATE
Switch from an adjustable-rate to a fixed rate mortgage, and keep one low and manageable interest rate for the life of your loan.
KUDOS!
Emily answered my text quickly (on a Saturday morning!) and helped me promptly with my request. I love the text feature at FFCCU!!
Amanda J.
Shared branching lets me, as a member of an out-of-town credit union, access FFCCU’s services. I have never had a bad experience working with FFCCU and appreciate that they have helped me make large d...
-Paul P.
Thanks to LeeAnn for walking me through a fraud case on our debit cards. She is a perfect example of the fine member experience at FFCCU – always so helpful. Folks like her make me glad I’m a me...
-Chris S.
The FFCCU team went above and beyond to help my 16-year-old get onto her mobile app. They were very helpful and kind. Definitely #peoplehelpingpeople and #CUDifference!
-Donna P.
MARGARET GILBRIDE went way above and beyond to help me with a bill pay issue. I would like to acknowledge her with a great big THANK YOU!
-Lori C.
Our Financial Service Rep spoke with the travel agency directly to ensure payment for our dream vacation made the deadline. The process reaffirmed that FFCCU is the best credit union for us!
-The Freeborns
I cannot thank Tilisha Champ at the Willoughby branch enough for going above and beyond to get my auto loan approved. She was a pleasure to work with her. Words can’t express how appreciative I am. I...
-Percaker G.
Once again, great service here! My membership goes back almost 40 years with Firefighters Community Credit Union. Never a disappointment.
-Dave
I give Kudos to the entire awesome credit union staff – especially to Karen, LeeAnn, Jashira, and Beverly. Excellent service! I am so glad to be a member.
-Maxine J.
I needed a new vehicle loan, and FFCCU beat other interest rates so dramatically it was a no “brainer.” I was so happy with the service I am switching all of my checking and savings over. Kudos...
-Amy B.
I had the pleasure of working with Tiffany Zifcak as I was selling one of my cars being financed by FFCCU. There were several tricky circumstances, and Tiffany was awesome. She stayed on top of all th...
-John G.
Thanks to Sumintra! She’s professional, detail-oriented, treats everyone with respect – and can laugh at puns! We’ve done extended business with FFCCU because I love working with her...
-Stephanie B.
Why Refinance With FFCCU?
Many lenders may be looking to sell your loan once it’s completed, but at FFCCU we hold and service nearly all of the loans we originate. FFCCU is dedicated to being a lender you can trust, and a partner in your home ownership, far beyond your closing date.
Have Questions? Not Sure Where to Start?
Contact us and we’ll walk you through the process.
Our Rates
Type | Interest Rate* | APR** | Monthly Payment |
---|---|---|---|
30 year conventional loan | as low as 7.125%* | 7.354% APR** | $1,347.44 |
20 year conventional loan | as low as 6.875%* | 7.169% APR** | $1,535.63 |
15 year conventional loan | as low as 6.625%* | 6.989% APR** | $1,755.99 |
10 year conventional loan | as low as 6.375%* | 6.884% APR** | $2,258.26 |
*All rates and estimates listed are based on qualifying credit. Rates and payments may be higher depending on credit score or other factors pertaining to credit-worthiness. **Calculations are based on a $250,000 purchase with 20% cash down, resulting in the financing of $200,000. APRs reflect fees of $4,500 and terms described above (30, 20, 15, and 10-year fixed-rate conventional loans). Monthly payment does not include taxes and insurance premiums. The actual payment amount will be greater. Payment assumes a loan-to-value (LTV) of 80%. |
*Calculations are based on a $250,000 purchase with 20% cash down, resulting in the financing of $200,000. APRs reflect fees of $4,500 and terms described above (30, 20, 15, and 10-year fixed-rate conventional loans). Monthly payment does not include taxes and insurance premiums. The actual payment amount will be greater. Payment assumes a loan-to-value (LTV) of 80%. All rates and estimates listed are based on qualifying credit. Rates and payments may be higher depending on credit score or other factors pertaining to credit-worthiness.
Since 2001, myCUmortgage® has been a leading Credit Union Service Organization (CUSO) and has made it their mission to help credit unions, like ours, facilitate the programs and processes needed to fulfill members’ home lending needs.