Here's to local servicing and lifelong savings
Whatever your goal, we’ll work with you to refinance on your terms. We keep your servicing local, which means your questions and concerns will be addressed quickly by people you know and trust.
Why refinance?
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Lower your monthly payments
Refinancing at the right time and term may reduce your monthly payments and increase your cash flow.
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Reduce the term of your loan
At lower terms, you’ll pay less overall by reducing your interest payments and paying the loan earlier.
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Consolidate debt
Need to consolidate debt? Refinancing may help you pay off debt faster and at a lower interest rate.
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Make home improvements
Refinancing can be a low-cost option for covering high-cost home improvements.
Current Rates
|
Type |
Term |
Rate |
APR |
|---|---|---|---|
|
APR = annual percentage rate. Mortgage rates are published daily and assume zero (0) points. Adjustable rates may adjust 2% annually after the fixed rate period with a 6% lifetime cap. |
|||
|
Type Fixed rate |
Term 30 years |
Rate 7.125% |
APR 7.164% |
|
Type Fixed rate |
Term 20 years |
Rate 7.125% |
APR 7.176% |
|
Type Fixed rate |
Term 15 years |
Rate 6.750% |
APR 6.812% |
|
Type Fixed rate |
Term 10 years |
Rate 6.750% |
APR 6.838% |
|
Type 3-year adjustable rate |
Term 30 years |
Rate 6.375% |
APR 7.468% |
|
Type 5-year adjustable rate |
Term 30 years |
Rate 6.625% |
APR 7.321% |
|
Type 7-year adjustable rate |
Term 30 years |
Rate 7.375% |
APR 7.534% |
Estimate your monthly savings
Enter the details for your original loan, the amount you wish to refinance, and your new desired term to estimate your monthly payment and interest rate.
Calculated payments shown are for estimation purposes only. Actual loan payment amount and interest rate will be disclosed at loan closing and may differ slightly.
Is refinancing right for you?
There are a number of good reasons to refinance your mortgage. Refinancing can reduce your monthly payments, making it an effective way to improve your cash flow and minimize your overall mortgage debt.
You could also use it to shorten your loan term so that you can pay down the loan faster, or to consolidate other debt you have accumulated. It’s important to remember that refinancing does include closing costs, so consider the benefits and the costs and work with your mortgage originator to determine if this is the right option for you.
Find the perfect refinance option for you
Explore our rates and terms to see what meets your financial needs or create your own refinance option using MyChoice Mortgage. With MyChoice Mortgage, you choose the terms of your loan! Just pick your fixed rate and a term from one to ten years, and get a mortgage that is truly tailored to your individual goals. The lower the term, the lower the rate!
MyChoice Mortgage is designed to be quick and easy. In most cases, no appraisal is needed and closing costs are generally limited to $150. Learn more at nefcu.com, or get in touch with one of our mortgage originators.
Apply to refinance your mortgage
Disclosures
- 1
- – Payment examples do not include amounts for taxes and insurance premiums and actual payment obligation may be greater than illustrated. APR = annual percentage rate.
- 2
- – APR = annual percentage rate. Fixed rate mortgage payment example: A fixed rate loan of $180,000 for 30 years at a 3.750% interest and an APR of 3.800% is a $834.00 monthly payment. Adjustable rate mortgage payment example: The adjustable rate mortgage is a variable rate loan; interest rates and payments may increase after the original fixed-rate period. Your interest rates and payments may increase after the original fixed-rate period. A loan for $180,000 at a 2.500% initial interest rate and APR of 3.454%, subject to increase, will have the following monthly payment: 12 payments of $711.22 at an interest rate of 2.50%, 347 payments of $711.22 at an interest rate of 3.50% and 1 payment of $805.67 at an interest rate of 3.50% based on the current index plus a margin.