REFINANCE YOUR MORTGAGE
Whether you'd like to free up some money in your budget by lowering your monthly payments or pay off your mortgage faster, refinancing your home with a lower rate might be a good option for you. Discover how much you can save by using our calculator or by talking to one of our experienced Mortgage lenders. Call 888.222.8571 Option 5.
*Mortgage Terms and Conditions
Mortgages available only for the following owner-occupied properties: single family residences, qualified condominiums or multi-family structures with no more than four units and up to 80% LTV. Mortgages with down payments as low as 5% (up to 95% LTV) are available only for the following owner-occupied properties: single family homes and multi-family structures up to 2 units and will require private mortgage insurance (PMI). Subject to approval of application. Monthly payment amount does not include any property taxes, and/or insurance premiums; the actual payment will be greater when such items are included. Mortgages available only to members and only in designated geographic locations. All Selfreliance FCU loan programs, rates, terms and conditions are subject to change at any time without notice. Not all applicants will qualify for the lowest Annual Percentage Rates (APR) shown. Annual Percentage Rate (APR) is based on an assessment of individual creditworthiness, occupancy and/or property type, and our underwriting standards.
Adjustable Rate Mortgage
The 5/1 and 7/1 ARMs offer a fixed rate for the initial period of the loan and adjust to a one-year ARM after that period. The interest rate and monthly payment may adjust annually based on the weekly average yield on United States Treasury securities adjusted to a constant maturity of 1 year (the index) plus a margin of 2.50 percentage points (2.875 for Jumbo Loans) with a 2% annual change cap and a 5% life time cap.
5/1 ARM Payment for a $100,000 80% LTV loan with a 2.375% rate and 2.571% Annual Percentage Rate (APR), based on the current market condition, the payment schedule would be: 60 payments of $389 at an interest rate of 2.375% and 300 payments at $397 at an interest rate of 2.570%.
7/1 ARM Payment for a $100,000 80% LTV loan with a 2.500% rate and 2.606% Annual Percentage Rate (APR), based on the current market condition, the payment schedule would be: 84 payments of $395 at an interest rate of 2.500% and 276 payments at $398 at an interest rate of 2.570%.
Fixed Rate Mortgage
The stated Annual Percentage Rates (APRs) are all based on $100,000 mortgages, except for the Fixed Rate Jumbo Portfolio Mortgages which are based on $548,250 mortgages. For example, a $100,000 15 Year Fixed Rate Purchase mortgage with an 80% LTV will have a 2.570% APR and the repayment schedule will be 180 monthly payments of approximately $667.
Higher loan limits available in High-Cost areas. Jumbo loan rates apply for higher loan limits.