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Mortgage Refinancing

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Today’s refinance rates

Adjustable-rate Mortgages (ARMs)2

Mortgage ARM Rates
TermRates As Low AsAPR1Monthly Payment1
3/3 ARM5.490%6.722%$567.16
5/3 ARM5.740%6.448%$582.94
7/3 ARM5.990%6.442%$598.91
Accurate as of 02/01/2023

Fixed-rate Mortgages

Mortgage REFI Fixed Rates
TermRates As Low AsAPR1Monthly Payment1
30-year fixed5.875%5.942%$591.54
20-year fixed5.750%5.842%$702.08
15-year fixed5.000%5.070%$790.79
Accurate as of 02/01/2023

Rapid Refi Mortgages

Mortgage Rapid Refinance Rates
TermRates As Low AsAPR1Monthly Payment1
8-year fixed/Rapid Refi5.590%5.660%$1,294.27
10-year fixed/Rapid Refi5.490%5.490%$1,084.77
12-year fixed/Rapid Refi5.490%5.539%$949.66
Accurate as of 02/01/2023

Ready to start? Begin your application.

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Why Refi?

Save on interest

Refinancing to a lower interest rate can mean thousands in savings over the life of the mortgage.

Lower your monthly payments

Depending on the terms of your refi, you could end up with a lower monthly mortgage payment.

Change your terms

Refinance to switch from an ARM to a Fixed-rate, shorten your term to pay off your home loan sooner, or cash out your home’s equity.

We offer the Refi product that’s right for you, at a competitive rate, with personal service to make the process painless. Start today.

Quick help

Mortgage comparison

Provide us with some basic information and we’ll find the best mortgage for you.

Mortgage resources

Find answers to all your mortgage and refi questions.

Find a mortgage loan officer

Choose who you want to work with.

Learn more about refinancing your mortgage

Cash-Out Refinance vs. Home Equity Loan: What’s The Better Option for You?

Two common ways that homeowners turn equity into money are a Home Equity Loan or a cash-out refinance. This blog will cover the basics of these two options and help you determine which is right for you.

3 Reasons to Refinance Your Mortgage

Wondering if a mortgage refinance is the right option for you? Check out our list of the top three reasons to refinance a mortgage.

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Why and When to Refinance Your Mortgage Loan

Many homeowners choose to refinance their Mortgage Loan, but it’s important to know the right reasons.

FAQs: You Asked. We Answered.

A home refinance is when you replace your current mortgage loan with a new mortgage loan. Some homeowners refinance in order to change the terms of their loan (for instance, going from a 30-year to a 15-year mortgage term) and others refinance to get a lower interest rate.

A cash-out refinance is a specific form of mortgage refinance that allows the borrower to “cash out” a portion of their home’s equity. A new mortgage loan then replaces the existing mortgage for a larger sum than was owed previously, and the borrower receives cash for the additional mortgaged amount. Learn more about Cash-Out Refinances vs. Home Equity Loans.

The interest rate you pay on your mortgage is based on a variety of factors. Your lender will review your individual credit circumstances, including down payment, loan term and type, current market rates, and provide you financing options to best fit your needs.

A credit score is one of the pieces of information that we’ll use to evaluate your application. Financial institutions have been using credit scores to evaluate credit card and auto applications for many years, but only recently have mortgage lenders begun to use credit scoring to assist with their loan decisions.


Credit scores are based on information collected by credit bureaus and information reported each month by your creditors about the balances you owe and the timing of your payments. A credit score is a compilation of all this information converted into a number that helps a lender to determine the likelihood that you will repay the loan on schedule. The credit score is calculated by the credit bureau, not by the lender. Credit scores are calculated by comparing your credit history with millions of other consumers. They have proven to be a very effective way of determining credit worthiness.


Some of the things that affect your credit score include your payment history, your outstanding obligations, the length of time you have had outstanding credit, the types of credit you use, and the number of inquiries that have been made about your credit history in the recent past.


Credit scores used for mortgage loan decisions range from approximately 300 to 900. Generally, the higher your credit score, the lower the risk that your payments won’t be paid as agreed.


Using credit scores to evaluate your credit history allows us to quickly and objectively evaluate your credit history when reviewing your loan application. However, there are many other factors when making a loan decision and we never evaluate an application without looking at the total financial picture of a member.

Processing your application can vary by lender and market conditions. The typical timeframe from application to closing ranges from 30 to 60 days.

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Disclosures

1APR = Annual Percentage Rate. Advertised rate reflects all available discounts and is current as of 02/01/2023. Rates and terms subject to change. Rates based on a loan amount of $100,000. ARM rates based on a loan amount of $100,000. Rapid Refi rates based on a loan amount of $100,000. Loan is subject to credit approval and actual rate is based on applicant’s credit history and term of loan. Credit Union membership necessary. Separate payment of taxes and insurance may be required. Products not available in Maryland.

2Interest is fixed for a set period of time, and adjusts periodically thereafter. At the end of the fixed rate period, the interest and monthly payments may increase. Products not available in Maryland.