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!
I’d like to give Kudos to Sue Whitt!! She always made herself available to answer phone calls, was prompt in providing documents in a way convenient to my work schedule, and found an expedited resolut...
-Frank D.
I called about a car loan for my daughter, who is a student, and Sumintra helped determine the best option. I have been a member for 25+ years, and always get great answers and help with our financial...
Sandy
Thank you to Tonja, who was very professional, organized, and helpful in processing a refinance. The entire team has been the best experience in service out there.
-Dan F.
I work with banks and credit unions on a daily basis, and FFCCU goes above and beyond to help its members. Thank you all for making the process easy to understand and treating me like a person.
-Jennifer
Clicked the “Live Chat” button, asked my question, got my answer literally within a minute. THIS is what support from a banking institution should be like. Thanks so much for your help!
-Ryan M.
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.
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.
Thank you to LeeAnn, for the prompt response to my online question. Our family has benefited from over 30 years of outstanding service with Firefighters Community Credit Union.
-Jeffery K.
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.
Thanks to Karen for helping me via Live Chat. She noticed I wasn’t using my account to my advantage and offered me a suggestion to do so. You rock! Appreciate the chat feature and have used it often.
-Gigi
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.
FFCCU made wrapping up my new car loan as easy as anyone could ever hope! What more can you ask for?! Thanks, Firefighters Community Credit Union, always!
-Dawn 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 6.625%* | 6.847% APR** | $1,280.62 |
20 year conventional loan | as low as 6.375%* | 6.663 APR** | $1,476.46 |
15 year conventional loan | as low as 6.125%* | 6.484% APR** | $1,701.25 |
10 year conventional loan | as low as 5.875%* | 6.379% APR** | $2,207.88 |
*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.