Designed with you in mind
With all of the buzz about rate changes, it can be difficult to know what is right for your situation. The simple answer is truly: it depends. MMFCU is here to help you decipher all of the options you have.
Your home is worth taking the time to make informed, wealth-building decisions for you and your family during this time.
- First, you’ll need to take into account several factors.
- Your current rate on your mortage
- How long you plan to stay in the property
- The amount of money (monthly) you will save if you refinance
- Reduction of the term of the loan
A good rule of thumb is to look for a difference of at least 0.50% between your current and new rate.
As always, our mortgage team is here to help you with any questions you may have along the way!
Mortgage Rates
| Term | Nominal Rate | APR | Payment per $1000 borrowed |
|---|---|---|---|
| Jumbo Mortgage Loan Rates | |||
| 30 Year Fixed - Jumbo | 4.125% | 4.177% | $4.85 |
| 15 Year Fixed - Jumbo | 3.500% | 3.560% | $7.14 |
| Fixed Rate Mortgages | |||
| 30 Year Fixed - 0 Points | 3.375% | 3.423% | $4.42 |
| 30 Year Fixed - 1 Point | 3.125% | 3.258% | $4.28 |
| 30 Year Fixed - 2 Points | 2.875% | 3.208% | $4.21 |
| 30 Year Fixed - High Balance | 3.625% | 3.672% | $4.56 |
| Flex 97 - 30 Year | 3.625% | 3.672% | $4.56 |
| 20 Year Fixed - 0 Points | 3.125% | 3.193% | $5.61 |
| 15 Year Fixed - 0 Points | 2.750% | 2.815% | $6.78 |
| 15 Year Fixed - 1 Point | 2.500% | 2.708% | $6.66 |
| 15 Year Fixed - 2 Points | 2.125% | 2.475% | $6.49 |
| 15 Year Fixed - High Balance | 3.375% | 3.436% | $7.08 |
| Fast Track Mortgage Refinance | |||
| 12 Years | 3.000% | 3.089% | $8.28 |
| 11 Years | 2.875% | 2.970% | $8.85 |
| 10 Years | 2.750% | 2.854% | $9.55 |
| 9 Years | 2.625% | 2.740% | $10.41 |
| 8 Years | 2.500% | 2.628% | $11.51 |
| 7 Years | 2.375% | 2.520% | $12.94 |
| 6 Years | 2.125% | 2.293% | $14.81 |
| 5 Years | 2.000% | 2.200% | $17.53 |
| Adjustable Rate Mortgages | |||
| 5/1 ARM - 1 Point | 3.125% | 3.173% | $4.28 |
| 5/1 ARM - 2 Points | 2.750% | 3.128% | $4.21 |
| 7/1 ARM - 1 Point | 3.250% | 3.128% | $4.21 |
| 7/1 ARM - 2 Points | 2.875% | 3.128% | $4.21 |
| 10/1 ARM - 1 Point | 3.500% | 3.547% | $4.49 |
| 10/2 ARM - 2 Points | 3.125% | 3.258% | $4.28 |
*Any payment amount quoted does not include amounts for taxes and insurance premiums. If these are included with your mortgage, your payment will be higher than the payment amount quoted.
