There is no set amount of time a refinance mortgage can take. Every refinance situation is different and unique to the needs of our members. Factors that may affect the length of time your refinance takes are: the type of loan, the loan terms, the type of documentation needed to secure the loan and the length of time it takes to get your lender the required documentation.
Your CMCU mortgage lender will work closely with you so that your deadlines are met and rate locks are honored.

Most likely a home appraisal will be needed. There are some instances where this may not be required.

Yes. This is called a cash-out refinance. A cash-out enables you to pay off your existing mortgage and take out some of your home equity in a cash payment at closing.

Credit ratings help determine the financial responsibility of a borrower. A higher credit score may help you qualify for lower mortgage interest rates.

Yes! There are several ways you can pay your mortgage online.
Internet Banking allows you to transfer funds from a CMCU checking or savings account to pay your mortgage. To enroll in Internet Banking, click here.
External Transfers allow you to set up access within Internet Banking to an external bank or credit union to pay your mortgage.
ACH Origination lets you set up recurring payments on a specific date to automatically pull your mortgage payment from another financial institution.
You may also pay your mortgage in any of our CMCU branch locations or over the phone with a credit or debit card.

Yes! When making your regular monthly payment, you can include an additional amount to be applied directly to your principal.
Some types of mortgages may be penalized if the loan is paid off early. Review the terms of your mortgage, or speak with your lender to determine if this applies to you.

Yes. You may call us at 888-330-8482 or stop in your nearest branch to inquire about paying off your mortgage early.