We’ll help you pay off your home faster.
The closer you get to paying off your mortgage, the more every financial decision matters. FinishLine Mortgage is designed to help homeowners keep the finish line in sight and stay on track toward mortgage-free living.1
Refinancing that pays off faster.
15- and 30-year terms are so last year. If you’ve almost paid off your mortgage, FinishLine lets you set, well, the finish line by selecting an exact, shorter term between 1 and 12 years.2 Because when you're this close, your mortgage should fit your goals, not a standard timeline.
Your FinishLine Mortgage, from start to finish
Find a loan officer
Connect with an LMCU loan officer near you. They’ll walk you through every step.
Choose your exact term
Pick your mortgage timeline, from 1 to 12 years, based on your budget, timeline, and goals.
Transfer your mortgage
Your loan officer will help you refinance your mortgage with us.3
Choose a payoff plan that's right for you
Flexible terms
- Choose from 1 to 12 years
- Not locked into 15 or 30
-
Access up to 80% of your home's available value
- Available in Michigan and Florida
FinishLine Mortgage FAQs
Our FinishLine Mortgage is a short-term refinancing program designed specifically for for homeowners who are moving a mortgage from another financial institution to LMCU.
The perk? Instead of refinancing into a traditional 15- or 30-year mortgage, you can choose the exact term that fits your payoff goal — anywhere from 1 to 12 years. It’s a great way to take your mortgage into your own hands and align it to your long-term goals.
FinishLine is built around payoff flexibility, as you can set your term from 1 to 12 years. While a standard refinance is usually about resetting into a conventional term structure, FinishLine is for homeowners who want a shorter, more customized path toward debt-free homeownership.
FinishLine may be a good fit if you:
- Already have a mortgage with another financial institution
- Want to shorten your term
- Want to choose your exact mortgage term
It may be less suitable if you:
- Want the lowest possible monthly payment, as shorter terms typically increase monthly payments.
In general, the shorter your term, the higher your monthly payment will be, because you have fewer years to repay your balance. The tradeoff is that you can pay off your mortgage sooner and potentially save money over the lifetime of your loan. FinishLine lets you optimize this by selecting a term that balances long-term savings with realistic monthly payments.
Our FinishLine Mortgage requires that you refinance your home loan from another financial institution to LMCU. It is available only in Michigan and Florida, with loan limits of $150,000 in Michigan and $250,000 in Florida. Loans are limited to 70% combined loan-to-value, and a $5 membership is required if you are not already a member. Terms, loan amount maximums, and other restrictions apply.
Your loan officer may ask for some common supporting documents during the application process, including:
- A valid I.D.
- A copy of your homeowner’s insurance
- Your recent mortgage statement for all properties
- A copy of your winter and summer property tax notice for all properties owned
- Your 2 most recent years of W-2s
- Your 2 most recent years of returns for self-employed applicants
- A certificate of trust, if applicable
These items can be provided by stopping by a local LMCU branch or emailing your loan officer.
The home of all your homeownership needs.
Disclosures
A sample fixed Finishline Mortgage monthly payment based on $120,000 at 6.99% APR for 144 months is $1,224.70. Taxes and insurance are not included; therefore, the actual payment obligation will be greater.
All Home Equity loans are available for properties located in Michigan or Florida and are not subject to application fees and annual fees. Terms, loan amount maximums, and other restrictions apply. Closing costs paid for by the borrower may include settlement fees, credit reports, flood determinations, property valuations (including appraisals, if required), title searches, lender's title insurance, recording and government charges. Estimated closing costs in Michigan typically range from $200 to $500. Estimated closing costs in Florida typically range from $500 to $2500. Fees are subject to change depending on the loan amount or additional requirements. Best rate available to well qualified borrowers with under 80% Combined Loan to Value (CLTV). Your rate may be higher based on your specific CLTV, terms and credit score. Contact LMCU for additional details. $5 membership required if not a member.
Subject to credit approval and income qualification.
