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Mortgage Refinance

Refinance. Reset. Relax.

Life changes — so can your mortgage. Call Federal helps you reap the rewards of mortgage refinancing with significant savings.

Benefits

Refinance Your Mortgage and Unlock New Opportunities

No Fees

Free Up Your Budget with Lower Monthly Payments

Reduce your monthly mortgage payment to create more room in your budget while staying on track with your financial goals.

Grow Money

Build Equity Faster with a Shorter Loan Term

Reducing the term of your loan helps you pay off your mortgage sooner and build equity more quickly, saving on interest over time.

Reward

Save More by Consolidating Your Debt

Combine your debts into one payment at a lower interest rate to simplify your finances and reduce overall costs.

House

Upgrade Your Home, Enhance Your Life

Invest in home improvements to create a space where you can live comfortably, laugh often, and love even more

Rates

Conventional Fixed Mortgages for Refinance

Term

Rate1

APR2

Points

1Rates posted are indications only and are subject to change without notice. If you wish to lock in your rate, please consult with your mortgage officer. 2APR=Annual Percentage Rate. All rates, terms, and conditions are subject to change and may vary based on creditworthiness, qualifications, and collateral conditions. Rates advertised are our lowest offered rates at the time of submission. Your rate may be higher. Loans are subject to approval. Certain restrictions may apply. Rates Effective Date: February 11, 2025.

Term

30 Year

Rate1

7.000%

APR2

7.113%

Points

0.125 Points

Term

30 Year (+ Points)

Rate1

6.500%

APR2

6.759%

Points

1.625 Points

Term

20 Year

Rate1

6.250%

APR2

6.603%

Points

 1.750 Points

Term

15 Year

Rate1

5.750%

APR2

6.207%

Points

1.875 Points

Term

10 Year

Rate1

5.375%

APR2

6.047%

Points

2 Points

SEE ALL RATES

Estimate your monthly mortgage savings

Enter information about your current mortgage loan and what you’d like to borrow, and we’ll estimate how much you could save refinancing with us.

Calculated payments shown are for estimation purposes only. Actual loan payment amount will be disclosed at loan closing and may differ.

Need a little more information?

Refinancing your mortgage offers several potential benefits, including:

  • Lower Monthly Payments: Reduce your financial burden with a better interest rate or extended term.
  • Better Interest Rate: Lock in a lower rate to save money over the life of your loan.
  • Shorter Loan Term: Pay off your mortgage faster and save on long-term interest.
  • Debt Consolidation: Combine high-interest debts into one manageable payment.
  • Access to Home Equity: Tap into your home’s equity for renovations, education, or other major expenses.

Refinancing can be a strategic move to better align your mortgage with your financial goals.

Yes, with a cash-out refinance, you can borrow against the equity in your home. This allows you to receive cash at closing, which can be used for home improvements, debt consolidation, education expenses, or other financial needs. Keep in mind that this increases your loan balance and may affect your monthly payment, so it’s important to evaluate your long-term financial goals.

Start Refinancing Today

Call Federal is here to help. Reach out to us today for more information and assistance.

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804.274.1200

Disclosures

*Rates posted are indications only and are subject to change without notice. refinance rates displayed are for term refinances only, cash out options are available at adjusted rates. If you wish to lock in your rate, please consult with your mortgage officer. **Payments listed assume: a loan amount of $175,000, property value of $250,000, excellent credit of 740 or greater, no subordinations – no other loans against the property, such as home equity loans or lines of credit and assumes the dwelling is for primary residence use, payment examples only reflect principal and interest payment and excludes escrow (real estate property tax and home owners insurance (aka hazard insurance), which would cause the actual payment to be higher. We do business in accordance with the federal fair housing lending laws.