Refinancing a Home

Mortgage Refinancing Loans (Refi)

First Castle FCU has refinancing options to help you with your mortgage goals.

  • Competitive interest rates
  • Flexible rates and terms
  • No mortgage insurance (PMI or MIP)
  • No prepayment penalties
  • No application fees

Lower Your Mortgage Payments

With mortgage interest rates near historic lows, you could possibly lower your interest rate and lower your payment of your current home loan.

If interest rates have fallen since you borrowed on your home, now may be the time to consider a mortgage refinance. If you can shave at least 1 percentage point from your current mortgage rate, then refinancing probably makes sense.

If interest rates are expected to start rising, you may want to lock in the current interest rates with a refi now.

If your credit score has improved since you closed on your current mortgage, you may be eligible for a lower-rate mortgage to save money on your payment each month.

If your current mortgage is an adjustable rate mortgage (ARM), you may want to refinance for more stable and predictable monthly payments.

Pay Your Mortgage Off Faster

Some borrowers choose to increase the term of their mortgage – increase the number of payments – to help reduce the amount paid each month.

Some refi borrowers choose a shorter term loan to decrease the number of payments and pay off the loan sooner. Generally, your monthly payments might be higher, but you could be decreasing the total interest paid over the life of the loan.

Call Us to talk about if a refi is right for you

Refinancing your mortgage makes sense for a lot of borrowers, but it may not be right for everyone. To help decide how a refi can help you, give us a call.

Apply Online!

or call (985) 867-8867

Curious about the status of your stimulus payment? Get information on your payment as well as branch updates, ways to access your account, and more, all on our resources page!VISIT PAGE