Mortgage Resources

Current Rates
(as of 4/27/15)

30-Year Fixed Rate
Rate Points APR*
3.625% 0.000 3.677%
15-Year Fixed Rate
Rate Points APR*
2.875% 0.000 2.950%
3/1 ARM
Rate Points APR*
2.500% 0.000 3.348%
5/5 ARM
Rate Points APR*
3.000% 0.000 3.495%
7/1 ARM
Rate Points APR*
3.250% 0.000 3.857%
*Annual Percentage Rate
Rates subject to change.


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Mortgage Refinancing


There are two types of refinances:
  • A no cash-out refinance pays off a first mortgage regardless of its age. You may want to get out of a higher fixed rate or rising adjustable rate mortgage and into a better rate and payment.
  • A cash-out refinance pays off more than a first mortgage and is usually used to consolidate a variety of loans. You may want to payoff a home equity loan that was obtained after you bought the home, consolidate high rate credit cards or use the additional cash for home improvements or education. Sometimes, the new payment may not be much more, or even lower than your current payments.

FMFCU will allow you to “roll-in” the costs associated with refinancing in most situations. Most settlements occur quickly.

Frequently Asked Questions | Refinancing

View the FAQs here.
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