Refinancing your mortgage can lower monthly payments, pay off your mortgage faster or get cash out for that project you've been planning.
If mortgage rates are falling or your home has dramatically appreciated in market value, you may want to look into refinancing your mortgage. With a cash-out refinance loan, homeowners can make better personal finance decisions, like making home improvements.
Mortgage interest rates are fallingYou can save by: 1. Keeping your current repayment term and lowering your monthly mortgage payments 2. Maintaining your monthly payments and reducing the repayment term of your existing loan
Home values are rising
Take advantage of your home's increased equity by using it to pay off high interest debt like credit cards, start a savings account or pay for large purchases.
You've owned a home for a few years
Refinancing usually makes the most sense in the early years of your mortgage, whether it's a fixed-rate mortgage or adjustable-rate mortgage. This is because, early on, your payments are primarily interest payments rather than principal payments.
Get a lower interest rate for the life of your loan
Pay off your current loan faster
Lower your payment
Use your home equity to better manage debt
Start your application online, give us a call or schedule an appointment
Applying to refinance your mortgage with TDECU as your mortgage lender is easy and convenient. Apply online, or download our TDECU Mortgage Simplified app to your mobile device from the app store! Prefer to discuss in person? Schedule an appointment with a Mortgage Advisor.Schedule Your Appointment
Mortgage refinance calculators:
Get estimations on the life of your mortgage loan, refinance rates, and more.