Lower Your Interest Rate SOME COMMON REASONS TO REFINANCE If market rates have dropped since you first secured your mortgage, refinancing could save you thousands of dollars over the life of your loan.
Switch Loan Types
Transitioning from an adjustable-rate mortgage (ARM) to a fixed-rate mortgage can provide stability in your monthly payments.
Tap Into Home Equity
A cash-out refinance lets you borrow against the equity in your home for major expenses like renovations or debt consolidation.
Shorten Your Loan Term
Refinancing can be a smart strategy for those looking to fast-track their financial goals. SCFCU is here to help you to find the best solution that will save money on your mortgage! Moving from a longer-term loan to a short-term mortgage can help you pay off your home faster and save you money by minimizing the interest accrued over time.
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