Deciding to Refinance

Homeowners refinance to lower payments, improve cash flow, or adjust their loans to fit changing goals. Whether you want to save money or access funds for major expenses, refinancing can help you take charge of your finances.

Ready to get started?

Apply Now View Rates

Or call 888-LOAN-391 (888-562-6391) to receive a call from an APGFCU^® Mortgage Consultant, to learn more about refinancing.

Mortgage refinancing means replacing your current home loan with a new one—often with better terms. This could include:

• Lower Interest Rate: Even a small reduction can save thousands over time.
• Shorter Loan Term: Pay off your mortgage faster and build equity quicker.
• Cash-Out Option: Use your home’s equity for renovations, debt consolidation, or major expenses.

The best time depends on:

• Current Interest Rates: If rates are lower than your existing mortgage, it may be time.
• Your Credit Score: Higher scores often qualify for better rates.
• Home Equity: More equity can unlock better options.
• Your Financial Goals: Looking to save money, pay off debt, or shorten your term.

Ready to refinance?

Apply Now View Rates

Or call 888-LOAN-391 (888-562-6391) to receive a call from an APGFCU Mortgage Consultant, to learn more about refinancing.

Looking to dive deeper into mortgage refinancing? Check out these helpful resources:

• Why Refinance Your Mortgage: Understand how refinancing can help you save money, access equity and choose a loan that fits your goals.
• Refinance Options for Existing APGFCU Mortgages: Learn how current members can refinance their existing loans for better terms.
• Understanding Refinance Costs: Get a breakdown of typical fees and expenses involved in refinancing.

• How much can I save by refinancing?
  

  Savings depend on your current rate, new rate, loan balance, and closing costs. Even a small rate reduction can save thousands over the life of your loan. Try our Mortgage Calculator for an estimate.

• Does refinancing hurt my credit score?
  

  Refinancing may cause a small, temporary dip in your credit score due to a hard inquiry, but the long-term benefits often outweigh this impact.

• What are the costs of refinancing?
  

  Closing costs typically include appraisal fees, title fees, and other charges. APGFCU offers competitive options to keep costs low. To learn more, call 888-LOAN-391 (888-562-6391) to receive a call from an APGFCU Mortgage Consultant.

• Can I refinance with bad credit?
  

  Yes, but your options may be limited. Improving your credit score can help you qualify for better rates. Our mortgage team can guide you through available solutions. To connect with an APGFCU mortgage consultant, please call 888-LOAN-391 (888-562-6391) to receive a call from our mortgage team.

• How long does the refinance process take?
  

  Most refinances take 30–45 days from application to closing, depending on documentation and appraisal requirements. For additional information about the refinance process timeframe, please call 888-LOAN-391 (888-562-6391) to receive a call from an APGFCU Mortgage Consultant.

• What documents do I need to refinance?
  

  You will typically need proof of income, tax returns, bank statements, and property details. There may be additional documents to finance your mortgage. To learn more, call 888-LOAN-391 (888-562-6391) to receive a call from an APGFCU Mortgage Consultant.