Home Loans Refinance
Love your home but not your mortgage? We can help with that.
Reset your finances with a refi using our flexible mortgage options.
If you're looking for a home loan that has your bottom line in mind, take a look at Azura. We love to welcome people home to a better mortgage experience where our friendly team takes time to understand what you need and keeps the refinance process running smoothly.
Why it might be a good time to refinance your home loan.
Things have changed since you closed on your current mortgage with that other financial institution. If any of these describe your situation, we'd love to hear from you to discuss your refi options.
Your credit improved.
A significant increase in your credit score could mean you qualify for a lower interest rate. And with a lower rate, you could pay off the principal faster and build equity quicker.
Interest rates are lower
As a general rule of thumb, if you can get an interest rate that's at least one percentage point lower than your current rate, you could save tens of thousands of dollars by refinancing. That money could be put to use in many other ways, whether it's in savings, investments or paying for expenses.
You want a fixed rate.
Maybe you have an adjustable-rate mortgage (ARM) and don't like where the rates are headed. By refinancing to fixed-rate mortgage, you can budget with more certainty and possibly lower your monthly payment.
You have equity to access.
You might have a big project in mind, such as a home renovation or a plan to consolidate and pay off debt from high-interest credit cards. By refinancing, you can access the equity in your home as a financing option or you can extend your mortgage term and lower your monthly payment.
Information to provide
Before we start, please make sure you gather these details for us so the application process goes smoothly.
- Your current residence address, or addresses, for the past two years
- Social Security numbers for all borrowers
- Your employment history for the past two years
- Income information for all borrowers
- Information on your current property being refinanced (year purchased, its original cost, current loan balance and payment amount)
- Bank, savings and brokerage account information for assets
- Information about your current debts
If you own any real estate other than the property you're refinancing, we'll have some basic follow-up questions depending on the property type.
Loans subject to credit approval. Must be eligible for membership and open a share savings account to obtain a mortgage loan product. A $5 minimum balance is required to open and must be maintained in share savings account at all times. Annual Percentage Rate (APR) is determined by an evaluation of applicant credit at account opening. Variable rates are subject to change after consummation of the loan. Fixed APRs are fixed for the life of the loan. Other restrictions may apply. Rates, terms and conditions are subject to change without notice. Azura Credit Union is an Equal Opportunity Lender. Contact Credit Union for details. Various types of mortgage loan programs and terms are available.
