Mortgage Refinancing
Make a Change for the Better
There are many reasons to consider refinancing your home loan—a lower monthly payment, saving on interest or paying off your loan faster.1 Let a Workers WayTM Financial Coach to help you decide what refi option is best for you.
- Lower your monthly payment
- Save on interest
- Pay off your loan faster
Save Money
Lowering your interest rate could increase your cashflow depending on your term length. Refinancing for the same term at a lower rate will reduce your monthly payment. Opting for a shorter term, your monthly payment may go up, but you’d pay less interest over the course of the loan.2
Pay Off Your Loan Faster
If you are looking to pay off your mortgage sooner, refinancing for a shorter term may be the best solution for you. Make an appointment with a Workers Way financial coach can help you with the details.2
Fast Track to the Finish Line
If you’re looking to pay off your home loan in 5-12 years and have a principle balance of $25,000 or more, a fixed-rate Finish Line Refi3 may be for you. All you’ll pay in closing costs is an application fee, that’s it!
Estimate Your Fixed-Rate Mortgage Payment
Use our calculator to make sure your new payment will fit into your budget. Enter the price of your home, the size of your down payment, your term, and interest rate and we’ll tell you how much you’ll pay on interest and principle.
Calculate Your PaymentAchieve Your Goals, the Workers Way
A refinance could increase your monthly cashflow, help you save on interest or allow you to pay off your loan faster. Whatever your goal, A Workers Wayᵀᴹ Financial Coach will meet with you one-on-one to help you get there.
Convenient Online Payments
Pay your loan anytime from your online banking account or through the mobile app.4
Homeowner's Insurance
Workers Insurance Agency provides customizable coverage with flexible payment options. 5
Finish Line Refi
Apply Now| Term |
APR* |
Payment per $1,000 | Based On |
|---|---|---|---|
| 5–7 years | 8.000% | $15.59 | 84 Months |
| 8–10 years | 8.250% | $12.27 | 120 Months |
| 11–12 years | 8.500% | $11.10 | 144 Months |
Refinance with a Single-Family Fixed Mortgage
Apply Now| Term | Rate | Points |
APR* |
Payment per $1,000 |
|---|---|---|---|---|
| 30 Years | 7.250% | 1 | 7.467% |
$6.82 |
| 30 Years | 7.500% | 0 | 7.615% |
$6.99 |
| 20 Years | 7.000% | 1 | 7.278% | $7.75 |
| 20 Years | 7.250% | 0 | 7.397% | $7.90 |
| 15 Years | 7.000% | 1 | 7.345% | $8.99 |
| 15 Years | 7.250% | 0 | 7.433% | $9.13 |
| 10 Years | 6.750% | 1 | 7.230% | $11.48 |
| 10 Years | 7.000% | 0 | 7.253% | $11.61 |
1Subject to credit underwriting and approval. Loan amount may vary based upon credit approval. Visit our rates page for all available rates and terms. Rates effective as of 8/18/2021 and subject to change at any time. Offers may be withdrawn at any time. Workers Federal Credit Union membership required. Annual Percentage Rate=APR.
2Fixed Rate Single-Family Mortgage Refinance: The Annual Percentage Rate (APR) on a fixed rate single-family mortgage refinance is as low as 2.543% APR for 10 Years. The monthly payment per $1,000 borrowed is $9.26. Taxes and insurance not included. Actual payment obligation may be greater. Charges may apply for appraisal fees, attorney fees, credit reports, underwriting fees, property insurance, private mortgage insurance, and loan origination fees. There may also be fees required by your current lender to have the loan refinanced with Workers Federal Credit Union. Annual Percentage Rates (APRs) are based on $100,000 loan to purchase a single family primary residence at an 60% Loan-to-Value (LTV) and a FICO Score of 780 or greater unless otherwise noted. Down payment as low as 3%, speak with a mortgage originator to determine eligibility.
3Finish Line Refinance: The Annual Percentage Rate (APR) on a Finish Line Refinance is as low as 3.500% APR for 5–7 years. The monthly payment per $1,000 borrowed is $13.44. Maximum loan amount not to exceed 80% of property value for the refinance of a single-family, owner-occupied primary residence and not exceed 75% of property value for an owner occupied second home residence. $499 non-refundable application fee. The program is available only for refinances of single-family, owner occupied residences, including condominiums, and is not available to refinance current Finish Line Refi loans. Requires active direct deposit into a Workers checking account within 60 days of Finish Line closing.
4Text, data, and messaging rates apply for downloading/utilizing the app and text alerts.
5Coverage varies by carrier. Products offered by Workers Insurance Agency and Affiliated Companies. Coverage is subject to eligibility and availability. Other terms, conditions, and exclusions may apply. Insurance products available through Workers Insurance Agency, a non-credit union subsidiary of Workers Credit Union are: NOT A DEPOSIT NOT NCUA-INSURED, NOT INSURED BY ANY FEDERAL GOVERNMENT AGENCY, NOT GUARANTEED BY THE CREDIT UNION, OR AFFILIATES MAY LOSE VALUE.