Traditional Home Refinance

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Refinance your mortgage to save money and get ahead.

  • Choose a fixed-rate or an adjustable-rate mortgage refinance.
  • Fixed-rate terms of 10, 15, 20 or 30 years.
  • Adjustable-rate terms of 15 or 30 years, with ARM options of 1/1, 3/1, 5/1, 7/1 or 15/15.
  • Maximum mortgage balance you can refinance is $510,400. To refinance a larger mortgage, see our Jumbo Refi.
  • Option to cash out your home equity.
  • Lowest closing costs - If you find lower closing costs elsewhere, we’ll match it or give you $500.
  • $250 closing credit - Get a member bonus when you have a Premium checking account.

Loan features to consider:

  • Longer terms have higher rates but lower monthly payments.
  • Shorter terms have higher monthly payments, but your rate is lower and you pay less interest over time.
  • Your rate stays the same with a fixed-rate home loan, which may make budgeting easier.
  • Your initial rate is usually lower with an adjustable-rate home loan but may adjust up or down in the future.

Learn more about home loan refinancing in our FAQs.

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Reasons to refinance include:

  • Paying off your mortgage sooner.
  • Building equity faster.
  • Taking cash out for home improvements, debt consolidation and more.
  • Lowering your monthly payments when you change your rate and term.
  • Benefiting from competitive closing costs.

What do ARM numbers mean?

Adjustable-rate mortgages (ARMs) are described with figures such as 1/1 and 3/1.

The first number is the number of years the initial fixed-rate term lasts. The second number is how often the rate may be adjusted after the initial term.

For example, a 5/1 ARM has a fixed rate for five years. After the five years are over, the rate may adjust once per year for the remainder of the loan.

Couple drinking coffee in their kitchen while discussing UW Credit Union's rapid refinance services

15-Year Fixed Rate


30-Year Fixed Rate


7 / 1 Adjustable Rate


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