Home Refinancing FAQs


 

Find answers to frequently asked questions about refinancing your home loan or mortgage. If you don’t see what you’re looking for, check our Help section.

General Refinancing Questions

What is home refinancing?

What are the benefits of refinancing a home?

What is a cash-out refinance?

When does it make sense to refinance a home?

Are there any prepayment penalties?

Does my credit get pulled when I apply?

Is the UW Credit Union mortgage team local?

Do I have to be a member of UW Credit Union to apply?

How do I apply for a home loan or refinance?

What happens if I want to change my type of loan after I apply?

How will I receive updates about my loan?

When can I lock my rate?

What happens to my old home loan when I refinance?


Rapid Refinance Questions

Is the fee really just $149?

Is the rate fixed or adjustable?

Will UW Credit Union keep my loan or will it be sold to someone else?

Can I escrow my property taxes and homeowners insurance?

Is an appraisal required?

What kinds of properties are eligible for rapid refinance?

What information do I need to provide when applying for a rapid refinance?