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Self-Help Credit Union

Mortgage Refinance

Make a Change to Your Loan

Your financial situation can change over time. Refinancing your mortgage can be a great way to adjust your home loan to meet your changing needs. Take advantage of low rates, pay off your home sooner, or tap into your home's equity.

Mortgage Refinance Benefits

Depending on your situation, a mortgage refinance might have some significant benefits, including the possibility of: 

  • Lowering your interest rate and monthly payment
  • Changing your loan term and paying off your home earlier
  • Locking in a fixed interest rate. If your current mortgage is an adjustable rate mortgage, a refinance can convert your loan to a fixed interest rate, to protect you against future rate changes.
  • Getting rid of private mortgage insurance (PMI)
  • Pulling funds out of your equity to use for other expenses

Each situation is different, and a mortgage refinance might not be right for everyone. Get in touch with us to explore what makes the most sense for you and your goals.

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Not Ready for a Refinance?

If you're interested in using the value of your home's equity to fund other needs, like a home renovation project, a home equity line of credit might be the perfect tool. Learn more about our HELOC options.

Ready to get started?

Our experienced home lending team is here to help. We'll talk with you to understand your current loan and what you're looking for in a refinance.

 

When you meet with your loan officer, it's helpful to bring the following items (for yourself and your spouse or co-borrower):

  • Proof of income (tax returns from past two years and pay stubs from two most recent pay cycles)
  • Bank statements (two most recent months)
  • Information about your current debt load
  • Information about the value of your house
  • Documentation of your homeowners' insurance
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