If you’re a SchoolsFirst Credit Union member looking to refinance your mortgage loan, you may be wondering what kind of mortgage refinance rates you’ll get. Luckily, SchoolsFirst has some of the most competitive mortgage refinance rates in the industry.
In 2021, the average rate of a 30-year fixed-rate mortgage is 3.03%. SchoolsFirst’s current mortgage refinance rates range from 2.75%-4.25%, depending on the type of loan you’re looking for.
If you’re looking for a 15-year fixed-rate mortgage, the current rate is 2.52%. SchoolsFirst’s current mortgage refinance rates for a 15-year loan range from 2.25%-4.00%.
If you’re looking for an adjustable-rate mortgage (ARM), the current rate is 3.34%. SchoolsFirst’s current mortgage refinance rates for a 5/1 ARM range from 2.875%-3.875%.
If you’re looking for a jumbo loan, the current rate is 3.45%. SchoolsFirst’s current mortgage refinance rates for a jumbo loan range from 3.25%-4.25%.
Benefits of Refinancing With SchoolsFirst
When you choose to refinance your mortgage with SchoolsFirst Credit Union, you’ll enjoy a number of benefits. First, you’ll be able to take advantage of their competitive mortgage refinance rates. In addition, SchoolsFirst offers flexible terms and loan amounts to suit your individual needs.
You’ll also be able to enjoy the convenience of refinancing online. With SchoolsFirst’s online mortgage refinance platform, you can complete the entire process from the comfort of your own home. Plus, you’ll have access to a dedicated loan officer who can answer all of your questions and provide guidance throughout the process.
How To Qualify For SchoolsFirst Mortgage Refinance Rates
In order to qualify for SchoolsFirst’s competitive mortgage refinance rates, you must meet certain eligibility requirements. First, you must be a SchoolsFirst Credit Union member. You must also have a good credit score, a steady source of income, and a debt-to-income ratio of 43% or lower.
In addition, you must have at least 20% equity in your home in order to qualify for a mortgage refinance. You must also have a valid home appraisal in order to confirm your home’s value. Finally, you must have at least two years of good payment history on your current mortgage loan.
How To Get The Best SchoolsFirst Mortgage Refinance Rates
In order to get the best SchoolsFirst mortgage refinance rates, you should shop around and compare offers from different lenders. You should also make sure to get pre-approved before you start shopping, as this will give you an idea of what kind of rates you’ll be able to get.
In addition, you should make sure to have all of your financial paperwork in order before you apply. This includes things like proof of income, a copy of your credit report, and recent bank statements. Finally, you should make sure to ask your lender about any special offers or discounts they may be offering.
Bottom Line
If you’re a SchoolsFirst Credit Union member looking to refinance your mortgage loan, you should take advantage of their competitive mortgage refinance rates. With flexible terms and loan amounts, a dedicated loan officer, and the convenience of refinancing online, SchoolsFirst Credit Union is the perfect choice for your mortgage refinance.
