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Lower Your Mortgage Payments & Refinance

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Lower your rate & payment by refinancing

If interest rates are lower than when you got your current loan, there's a good chance refinancing may help lower your monthly mortgage payment and pay off your loan sooner, but why else would you refinance?

Reasons to refinance

  1. Lower your interest rate
  2. The value of your home has increased
  3. Home improvements
  4. Debt consolidation
  5. Build equity faster
  6. Apply for a home loan that recognizes improved credit score
  7. Convert to a fixed or adjustable-rate

Get started


Requirements needed to apply

  2 years w-2s.

  30 days of paystubs (4 weekly paid, 2 for biweekly).

  If you have retirement income, we will need your yearly award letter. 

  If you have social security income, we will need the yearly award letter.

  2 months of bank statements. 

  Homeowner's Insurance Quote if purchasing or declaration page if refinancing. 

Fixed Rate Vs. Adjustable Rate

Fixed Rate

Fixed Rate

The mortgage rates do not change for the term of the loan. Your monthly payments will remain the same throughout the life of the loan.

Adjustable Rate

Adjustable Rate


If you're looking for lower initial monthly payments or plan on being in your home for short term, an adjustable rate mortgage can be beneficial. The rate can fluctuate up or down after the initial rate expires.


Discover helpful Tips for advice on the best time to buy a home and what steps to take when applying for a mortgage loan.

For more on mortgage refinancing, see why it's important to learn about refinancing and if the timing is right.

It helps to know the ins and outs of the mortgage journey to make sure it's the best route to financial health. That's where we come in. With over 85 years of mortgage expertise, we'll take the time to understand your home needs, step by step. Get quick online pre-approval today with our online or mobile-friendly application!

mortgageservices@u1cu.org  |  800-762-9555 ext 424  |  NMLS #652486

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All loans subject to approval. Rates, terms and conditions vary based on creditworthiness and amount financed. Other restrictions may apply. Rates and terms subject to change.

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