Mortgage Refinancing

A lot can change over the life of a mortgage. Refinancing could mean massive savings for you over the life of your mortgage as well as monthly savings in your budget.  Our attractive low rates could allow you to shorten your terms and be mortgage-free sooner than you thought.  You could even use a ‘cash out’ option to make some needed repairs or take care of other obligations.  Our mortgage consultants are ready to run numbers with you and talk through the possibilities.

How Much Will I Save?

Is refinancing right for you?  It could mean massive savings, however the cost associated can also add up.  The calculator below will help you estimate what refinancing could do for your family.

What Will I Need?

We strive to make this process as easy and convenient as possible. Download our mortgage refinance checklist to make sure you have all of the required documents to apply for mortgage refinancing.

Conventional Fixed Mortgages for Refinancing

Rate* APR Points Payment**
30 Year 3.000% 3.081% 0 points $738
30 Year 2.750% 2.879% 0.625 points $714
20 Year 2.625% 2.738% 0 points $938
15 Year 2.375% 2.521% 0 points $1,157
10 Year 2.250% 2.463% 0 points $1,630

Rates last updated: 11/30/2020 11:51 AM

Purchase Rates

**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
Initial Interest Rate: On a Fixed rate loan, it is the rate for the entire life of the loan. On an Adjustable Rate Loan it is the interest rate that is fixed for some specified number of months at the beginning of the loan term.
APR: Annual Percentage Rate the rate that reflects the actual annual cost of a loan and includes the loan interest rate, private mortgage insurance, points and some fees, including origination fees.
Point: A point is equal to one percent of the principal amount of your mortgage. For example, if you get a mortgage for $100,000, one point means you pay $1000 to the lender. These points are usually collected at closing and may be paid by the borrower or the home seller, or may be split between them. You can pay points at closing to receive a lower interest rate, or you can choose to have points paid to you (also known as a lender credit) and use them to cover some of your closing costs. (negative points means a higher interest rate).


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Call Federal Credit Union is an Equal Housing Lender licensed by the National Mortgage Licensing System under NMLS #407823.

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