If your life has changed, shouldn’t your mortgage?
You may be able to lower your payment, shorten your term, or tap your equity. Let’s help you find out.
Same home. Smarter loan. Big difference.
Talk to one of our loan officers about how a mortgage refinance could significantly improve your current home loan. It could change a lot. Or just the one thing that matters most.
Lower your payment
A lower rate could mean real money back in your pocket every single month. It’s worth a look.
Pay it off faster
Shorten your term and you could own your home free and clear years ahead of schedule.
Say goodbye to PMI
If your equity has grown, refinancing may let you drop private mortgage insurance for good.
Put equity to work
A cash-out refinance lets your home help fund what's next — renovations, big goals, and more.
Simplify your debt
Roll higher-interest debt into your mortgage and trade multiple payments for one lower one.
Lock in your rate
Switch from an adjustable rate to a fixed one. Same payment, every month, until it's paid off.
Good questions deserve straight answers.
Refinancing isn't one-size-fits-all. Here are the questions most homeowners ask before deciding — with clear answers, not fine print. For anything more specific, a loan officer is one call away.
It may make sense when rates have dropped since you bought, when you want to shorten your term or stabilize your payment, or when your equity has grown enough to do something useful with it. The honest answer: run the numbers. Compare your current loan, a potential new rate, and the closing costs in between. If the math works — and you're planning to stay in the home long enough to reach break-even — it's worth a real conversation with a loan officer.
Closing costs for a refinance typically include appraisal fees, title services, and lender fees. The key number to understand is your break-even point — how many months of lower payments it takes to recoup those upfront costs. LMCU's industry-low closing costs help you get there faster. A loan officer can walk you through a real estimate before you commit to anything.
A cash-out refinance lets you borrow against the equity you've built — the difference between your home's value and what you still owe. Most lenders allow you to borrow up to 80% of your home's current value, depending on the loan type. The cash is yours to use, but keep in mind: you're increasing your loan balance, which affects your total interest over time. Used wisely for home improvements or consolidating higher-rate debt, it can be a smart move. A loan officer can help you size it right.
Yes, but typically in a small and temporary way. Applying for a refinance triggers a hard credit inquiry, which may cause a minor, short-term dip in your score. Over time, a refinance that lowers your payment or helps you pay off debt more consistently can actually support your credit health. If you're rate-shopping with multiple lenders, do it within a short window — credit bureaus generally treat multiple mortgage inquiries close together as a single inquiry.
Both let you use your home's equity, but they work differently. A refinance replaces your entire mortgage with a new loan — different rate, different term, potentially cash out. A HELOC keeps your existing mortgage in place and adds a revolving line of credit you can draw on as needed. If your current mortgage rate is favorable and you mostly need flexible access to equity, a HELOC may be the smarter fit. If you want to restructure your whole loan and potentially improve your rate at the same time, a refinance is worth exploring. LMCU offers both — a loan officer can help you compare.
Save even more with LMCU’s Max Mortgage discount!
There's a person behind this, not a portal.
Refinancing has a lot of moving parts — rate-and-term, cash-out, shorter term, PMI1 removal — and the right answer depends on your specific loan, your goals, and how long you plan to stay. Our loan officers aren't here to sell you on anything. They're here to sit with you, run the numbers, and tell you honestly whether a refinance mortgage makes sense. Real guidance from a real person.
Disclosures
Private Mortgage Insurance.
To receive MaxMortgage discount, mortgage payment must be an automatic payment that comes from an LMCU checking account with an ACH deposit. Some programs may not be eligible, discuss with your mortgage loan officer for further details.
