Refinancing a Home

Historically low mortgage rates can save you money today.

We can help you refinance your current mortgage to help lower monthly payments, lower your interest rate, or even take cash out for large purchases. Whatever your reason, our Mortgage Loan team works with you to help you reach your goal.

Let's get started!

Complete the online application in under 10 minutes (on average). Once you submit your application, you will be contacted by the local mortgage lender to determine your goal, your options, and the best solution fit for you and your lifestyle.

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Refinancing their mortgage loan

Perks of a CMCU Mortgage Loan

We're Local

Local lenders, underwriters, and processors mean that we can relate to your local values. Local knowledge and expertise helps speed up the processing to get to closing faster. Plus, a vast majority of our loans stay in-house instead of being sold off.

Loan Options

CMCU offers many different types of mortgage loans. From traditional 30-year fixed-rate loans to various government programs like Rural Development or VA loans, we'll be sure to set you up with the right mortgage that fits your needs.

Lower Fees

Instead of the typical 1% (or higher) origination fee for closing, CMCU has a single $1,000 closing fee for all loans*, no matter how big your mortgage loan might be.

Digital Experience

Your mortgage loan can be connected to your current CMCU digital banking account so you can view all your accounts in a single place. You can also schedule and pay your mortgage payments to save on stamps and envelopes!

Home Loan Process

Complete an Application

Submit an application with some details such as your contact information, property details, current debt, monthly payments, and approximate credit score. A mortgage lender will be in touch within several business days with a loan estimate and any additional details. You will need to submit more documents such as bank statements, pay stubs, W-2s, tax returns, or details of your employment. Your mortgage lender will explain the documentation needed.

Home Appraisal

A mortgage lender will order an appraisal for your home to determine its value based on factors such as the number of bedrooms or bathrooms, similar homes sold recently in the area, and any other characteristics of the home. All of these factors will be considered when determining the loan amount and terms.

Sit tight as CMCU does some processing and files all the paperwork. We'll be in touch with you regarding the final details of your mortgage loan, how much your payment will be, and other fun details. This is also when the closing date will be set.

Mortgage Closing

It's Closing Day! We'll need your wet signature on a variety of documents to finalize your mortgage loan and process refinance of the mortgage loan. This will likely happen at a titled company's office.


"Should I Refinance My Mortgage?"

How do you know a mortgage refinance is right for you? Weighing various benefits and drawbacks in light of your situation can help you determine whether to pay off an existing mortgage with a new one.
Read our blog post:Read More

Mortgage Loan Refinance Calculator

Estimate monthly payments and total interest paid on any fixed-rate mortgage loan.

Current Mortgage Principal Balance:
Current Monthly Payment:
Current Interest Rate:
New Interest Rate:
Number of Years Refinancing For:
Closing Costs:
Closing costs vary greatly depending on several factors and can be lower or higher than the estimated amount. Typically ranges between 1.5% and 2.5% of the total principal of the loan.
Would you like to finance the closing costs?
Monthly Payment After Refinancing:
Monthly Payment Reduction:
How much interest you will pay under your current monthly payment plan:
How much interest you will pay under your refinanced monthly payment plan:
How much total interest you will save if you refinance:
Net Refinancing Savings (interest savings less closing costs):
Number of months for interest savings to offset closing costs:

*Calculator provides general estimations only. Inconsistencies may occur with the use of the calculator and the outcomes are not credit guarantees. For specific payment and interest information, please contact us.

Calculating mortgage payment



A general recommendation is to have 20% of the mortgage loan as a down payment.

Apply for a mortgage loan today!

We’re ready to help finance your home so you can enjoy bigger, better savings.

Apply Now

Mortgage Programs

Check out some of the mortgage loan options available with CMCU:


Traditional mortgage loans with fixed rates throughout the term of the loan.


Mortgage Loans with variable interest rates which may fluctuate payments.


Learn more about purchasing your first home and your options available.


Get a land loan to purchase a piece of property for construction or recreational use.


A program available through USDA to boost rural communities and offer appealing mortgage loans to buyers.


Funds are available from the Federal Housing Administration to low-moderate income families.


A program for credit-worthy low-to-moderate income borrowers or homes in low-income communities.


A VA loan helps provide home financing for eligible Servicemembers, Veterans, and surviving spouses.


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Please note, while you are undergoing the mortgage loan process, it is best that you check with your mortgage lender before opening any other loans at the same time.

$1,000 origination fee does not apply for construction loans or in-house mortgage programs


To help the government fight the funding of terrorism and money laundering activities, Federal law requires all financial institutions to obtain, verify, and record information that identifies each person who opens an account.
What this means for you: When you open an account, we will ask for your name, address, date of birth, and other information that will allow us to identify you.
We may also ask to see your driver’s license or other identifying documents.

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