Traditional Home Refinance Traditional Home Refinance

Refinance your mortgage to save money and get ahead.

• Choose from a range of fixed-rate and adjustable-rate refinance options.
• Fixed-rate term of 10, 15, 20 or 30 years.
• Adjustable-rate term of 15 or 30 years, with ARM options of 3 yr/6 mo, 5 yr/6 mo, 7 yr/6 mo or 15/15.
• Consider a FHA refinance if you have less-than-perfect credit.
• We offer VA refinancing to members of the military.
• Option to cash out your home equity.
• Lowest closing costs¹ - If you find lower closing costs elsewhere, we’ll match it or give you $500.
• Get up to $500 off closing costs² just by choosing UW Credit Union
  • Plus, get up to $250 more off your closing costs with a Premium Checking account!
• To refinance a loan balance greater than $726,200, see our Jumbo Home Refinance.

Reasons to refinance include:

• Lowering your rate to save on interest.
• Lowering your monthly payments.
• Changing your term to pay off your loan quicker.
• Converting your home equity into cash.

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.

Learn more about home loan refinancing in our FAQs. To compare refinance terms, rates and payments, get a rate quote.

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What Do the Numbers Mean?

Adjustable-rate mortgages (ARMs) use figures such as 3 yr/6 mo.

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

For example, a 5 yr/ 6 mo ARM has a fixed rate for five years. After five years, the rate may adjust every six months for the remainder of the loan.