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Refinancing Your Mortgage

There are many reasons why refinancing your home might be right for you. Perhaps you are looking to reduce your interest rate and monthly payment. Maybe retirement is around the corner, and you have a goal to enjoy that milestone mortgage-free. If you have built up enough equity in your home, you may want to refinance and take cash out for a large purchase, to pay off debt or make home improvements. Whatever your reason, our experienced Mortgage Consultants can help you find the best option for you and your unique situation. There are costs associated with refinancing, so let us help you consider all of your options.

Members can refinance with our Conventional and Jumbo Fixed Rate and Adjustable Rate mortgages or our low-rate, short-term "On the House" mortgage. SCU Credit Union offers mortgages on 1-4 family, owner-occupied properties, condominiums, and vacation homes located within Massachusetts or Rhode Island.

Fixed Rate Mortgages

Features & Benefits:

Adjustable Rate Mortgages (ARM)

Features & Benefits:

Sixty Day Low Rate Guarantee

Sharon & Crescent United Credit Union offers up to a Sixty (60) Day Low Rate Guarantee. Your mortgage rate will be locked twelve (12) business days prior to closing. You are not required to pay a fee for this service.

Your interest rate will be the lowest rate offered by Sharon & Crescent United Credit Union in your product category back to the date of your application or sixty (60) days from closing, whichever is less.

For a refinance, your “low rate guarantee” period ends on your Loan Commitment Expiration Date or sixty (60) days from closing back to the date of your application, whichever is less,  taking into consideration the twelve (12) business day regulatory requirement, as noted as above.

“On The House” Refinance Fixed Rate Mortgage

Features & Benefits:

“On The House” Refinance 5/5 Adjustable Rate Mortgage

Features & Benefits:

  • No points
  • No closing costs
  • Option to take cash out
  • No pre-payment penalty
  • Adjustment index is the 5-year U.S. Treasury Bill, with a margin of 2.75%
  • Maximum adjustment cap per 5-year period is 2%; Lifetime adjustment cap is 4%
  • Conventional or Jumbo option
  • Term from 7 to 12 years
  • Get next day bill notification with eNotices
  • Apply >> (Select Home Equity)

For more information please contact our Mortgage Consultants or call our member service call center at 781-784-7725 or toll free at 1-877-661-3300.

Use our mortgage calculators to help you determine if refinancing is right for you and how much mortgage you can afford.

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