Refinance your current mortgage
There are a few reasons to consider refinancing your current mortgage. If you’ve been in your home a while, interest rates may be much lower and you may be able to get a lower interest rate and monthly payment. If this is the case, you will ultimately end up paying less interest over the life of the loan. Based on the amount of equity, the closing costs may be rolled into the loan.
Others refinance to take “cash out.” This would be an option if you have built equity in your current home and you would like to take that equity to make home improvements or even consolidate debt.
So many mortgage choices
As a rule of thumb, the longer term you select, the higher the interest rate, but the lower the payment. You will end up paying more in interest over the life of the loan with say a 30-year term vs. a 15-year term. Remember, you can pay your mortgage off at any time with NO pre-payment penalties.We offer mortgage loans in other states through our partner, CU Companies.
We take our obligation of educating our members very seriously.
If you have questions about your current home loan situation or want to know more about the many different financing options available, please contact one of SPIRE’s mortgage experts.
Contact a Mortgage Professional
Additional Mortgage Information
Your Home Loan Tool Kit
Mortgage Glossary (PDF)
My SPIRE Mortgage - AmeriCU (Towne Mortgage)
CU Mortgage Services, Inc.