Mortgage Refinancing

You've heard it from friends or neighbors - or maybe read about it on the web. Refinancing a mortgage could save you money. But just how does that work? At Fox, we're happy to sit down with you, discuss the details of refinancing, and help you apply for a new loan that's as attractive as your Wisconsin home.

• Competitive rates
• Choose fixed-rate or adjustable-rate loans
• Personal attention from friendly, experienced lending professionals
• Review our current mortgage rates
• Learn more about refinancing and home loans on our Fox mortgage resource page

Reasons to refinance

• If interest rates have dropped since you obtained your original mortgage, you could save on interest charges
• If your credit score has improved since you obtained your original mortgage, you could qualify for a lower rate
• If you have an adjustable-rate mortgage, you may want to convert to a more predictable fixed rate
• If you would like to reduce your monthly payments, you could switch to a longer term mortgage
• If you would like to eliminate your debt faster - or build equity in your home quicker - you could switch to a shorter term mortgage

First-time homebuyers aren’t always in the best financial situations — their credit scores could be on the lower side, they may not have much to contribute to a down payment, or they have to stretch out the term for an affordable monthly payment. That means they end up with mortgages that tend to have long terms, high interest rates, and/or high monthly payments.

And that’s why it’s so important to refinance your mortgage when the time is right. But when is the right time to refinance a mortgage? Well, the easiest way to find that out is to get in touch with our friendly and knowledgeable mortgage experts here at Fox Communities Credit Union and let us see what we can do for you — our Contact Us page has multiple ways for you to reach us. Otherwise, look out for one or more of the following trends:

• Interest rates have dropped below your current rate
• You credit score has risen from what it was when you opened your mortgage